MNG stock is getting aquired by NEM stock, I own MNG what should I do?

Question

The aquisition will be completed on December 21. I bought MNG when it was 6.35, what will happen if I don't sell my MNG shares by Friday? Will I get NEM stock shares instead? What should I do?

Answer 1

I would sell the shares and take a break even trade; Newmont Mining is a very good company; but I believe its stock price is a bit over-valued at the present time so I would sell or perhaps swap into a good China based company or an energy company as energy prices remain near historical highs.

Answer 2

Since you own MNG, NEM will be offering a value buy for MNG which will include its shares outstanding. Typically, this means an increase in value for your investment; but I cannot guarantee that as MNG is already below where you bought in at. You can keep the stocks as they will still be registered to MNG, and will be a part of MNG's obligation load. NEM's will own the MNG, but MNG stocks will still sell on the market as MNG. I would hold onto them. If NEM has any successes, you will see an increase in value as well as any successes on the part of MNG.

All in all, take it easy and wait before unloading these shares.

Answer 3

Based on your buy price, if you tender your shares you will lose C10 cents (Canadian). Officers and directors of MNG have tendered their shares. Contact info below. Suggest follow up.



Report:



Newmont Offer to Acquire Miramar Mining Receives Investment Canada Approval

Tuesday December 18, 2:31 pm ET



DENVER, Dec. 18 /PRNewswire-FirstCall/ -- Newmont Mining Corporation (NYSE: NEM - News) announced today that the Minister of Industry, The Honourable Jim Prentice, confirmed that he is satisfied that the acquisition of Miramar Mining Corporation (Amex: MNG, TSX: MAE), on the terms provided in the support agreement relating to the transaction and certain undertakings provided by Newmont, is likely to be of net benefit to Canada, as required by the Investment Canada Act.



Richard O'Brien, President and Chief Executive Officer of Newmont, said, "With the necessary regulatory approvals from the Canadian authorities, we look forward to completing this investment and focusing on the disciplined development of the Hope Bay Project for the benefit of Newmont's shareholders, Nunavut and the communities near Hope Bay."



Newmont's offer to acquire the common shares of Miramar for C$6.25 per share will expire at 5:00 p.m. (Toronto time) on December 21, 2007. The offer remains subject to there having been deposited a number of common shares of Miramar that, together with the common shares held by Newmont and its affiliates, constitutes at least 66 2/3 percent of the common shares of Miramar then outstanding. Miramar shareholders are encouraged to tender their shares as soon as possible. All of the directors and senior officers of Miramar have tendered their shares to the offer.



MacKenzie Partners, Inc. is the information agent for the offer. Shareholders can obtain copies of the offer and take-over bid circular and related materials at no charge from the information agent, MacKenzie Partners, Inc. at [phone] or by email at [e-mail].



Miramar Mining Corp.

889 Harbourside Drive

Suite 300

North Vancouver, BC V7P 3S1

Canada - Map

Phone: [phone]

Fax: [phone]

Web Site: http://www.miramarmining.com