Goldcorp (NYSE:GG) Issuing 61 Million Shares in Andean Deal

Goldcorp (NYSE:GG) announced it will issue 61 million shares as part of their deal to close the Andean Resources acquisition.

The giant gold miner is acquiring Andean for C$3.6 billion, with the remaining amount to be settled with C$765 million in cash.

Shareholders in Andean were given the option of $0.14 of a share in Goldcorp, C$6.50 in cash, or a combination of the two. That was subject to an overall maximum cash consideration of C$1 billion.

The cash being paid out will be draw from existing cash reserves, said Goldcorp.