Deal-Hunting OceanaGold Halts Trading on Possible Combination
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OceanaGold Corp. halted its shares in Sydney on Thursday ahead of announcing a possible business combination as a tumbling gold price drives a mergers and acquisitions boom.
The producer said in April it was seeking to buy more assets after agreeing to pay $101 million for Newmont Mining Corp.’s Waihi mine in New Zealand. Melbourne-based OceanaGold will remain halted until the start of trading on Aug. 3, unless an announcement is made.