03:23 PM EDT, 03/27/2026 (MT Newswires) -- (Updates with Eldorado Gold's ( EGO ) comment in the fourth paragraph.)

Eldorado Gold's ( EGO ) proposed acquisition of Foran Mining for 3.8 billion Canadian dollars ($2.7 billion) has been opposed by proxy adviser Glass Lewis, Bloomberg reported Friday.

Glass Lewis said Eldorado Gold ( EGO ) shareholders would get a smaller stake in the combined company than the value they are contributing under the stock-and-cash transaction, the report said.

The recommendation contrasts with Institutional Shareholder Services' advice that urged investors of both Eldorado and Foran to support the deal, the report said.

The Glass Lewis conclusion "does not fully reflect the long-term strategic and economic merits of the transaction," Eldorado said in an emailed statement to MT Newswires. The deal "represents a compelling opportunity to strengthen Eldorado's portfolio with a multidecade Canadian asset" and enhances copper exposure, according to the statement.

Glass Lewis did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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