Yamana seeks an end to Meridian Gold's poison pill

By Lisa Kerner

Charlotte, N.C., Sept. 4 - The Ontario Securities Commission will hold a hearing on Wednesday to consider whether to halt Meridian Gold Inc.'s shareholders rights plan or "poison pill" at the request of Yamana Gold Inc.

Yamana is seeking an order to have the rights plan cease trade on Sept. 11 and is urging Meridian Gold shareholders to tender their shares now, according to a company news release.

Yamana has offered C$4 plus 2.235 Yamana shares for each Meridian Gold share in a deal that also includes Northern Orion. The offer deadline is Friday. Northern Orion shareholders voted to approve the transaction on Aug. 22.

Meridian Gold is a mid-tier gold producer with mining operations in Chile and Nevada. The company is based in Reno, Nev.

Yamana is a Toronto-based precious metals mining company.

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