Credit Suisse Upgrades Silver Wheaton (SLW) to Outperform
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Silver Wheaton (SLW) to Acquire Gold Assets from Vale (VALE) in $1.9B Deal
February 5, 2013 5:09 PM ESTSilver Wheaton Corp. (NYSE: SLW) is pleased to announce that it has entered into a binding term sheet to acquire from a subsidiary of Vale S.A. (NYSE: VALE) an amount of gold equal to 25% of the life of mine gold production from its Salobo Mine, located in Brazil, as well as 70% of the gold production, for a 20-year term, from certain of its Sudbury Mines located in Canada.
The Company will pay Vale total cash consideration of US$1.90 billion, plus 10 million Silver Wheaton... More
