Agnico Eagle Mines completed its merger with Kirkland Lake Gold on 2/8/2022 for 0.7935 shares of Agnico Eagle Mines stock for each KL share.
The SEC filing for this merger can be found through the SEC EDGAR web site at:
The companies plan to structure the merger so it is a non-taxable reorganization. We will assume they are successful and will treat this merger as a simple merger. The information below is based on the information included in a form 6-F filed with the SEC on 9/28/2021. Price information is from websites offering historical prices.
NOTE: The companies state they will endeavor to satisfy the conditions necessary to make this transaction non-taxable. However, there is the possibility the IRS will disagree with their characterization. These instructions assume the companies succeed in their efforts. New instructions will be written, if and when it becomes known the merger should be treated as a taxable event.
The Merger Entry Go to Transactions > Merger or Accounting > Securities > Record merger of securities depending on the version of the software being used. If you are unfamiliar with merger transactions you can get help at this URL: http://www.iclub.com/support/kb/default.asp?page=normal_merger
Here is the information needed for Kirkland Lake Gold shareholders to complete the merger.
Old Security or Merging Company: Kirkland Lake Gold (KL)
Price per share of old Security / : Use last KL valuation, if needed
Cash received: See your broker statement for cash-in-lieu
New Security: Agnico Eagle Mines (AEM)
New Security Price: 49.18 (Opening price on 2/8/2022)
Shares received : 0.7935 x (# of KL shares owned).
(Remember to include fractional shares.)
For example, if you owned 100 KL shares, you should receive 0.7935 x 100 = 79.35 AEM shares.
Save the transaction and the merger has been entered.