07:29 AM EST, 12/12/2024 (MT Newswires) -- Agnico Eagle Mines ( AEM ) said Thursday that it has agreed to acquire O3 Mining in a deal valued at 204 million Canadian dollars ($144.1 million).

Agnico Eagle said it would offer CA$1.67 per share in cash for O3 Mining through a takeover bid.

Agnico Eagle said its unit, Agnico Eagle Abitibi Acquisition, plans to formally launch the takeover bid on Dec. 19, which will be mailed to O3 Mining shareholders.

The offer will be open for acceptance until Jan. 23.