09:48 AM EST - Yamana Gold : announced the extension of its hostile takeover offer for Meridian Gold (T.MNG) to September 24 from September 11. The proposed $3.2 billion bid, launched in July, comprises of $4 in cash along with 2.235 common shares of Yamana. To date, about 34% of common shareholders of Meridian have tendered their shares. The Meridian bid is also important for Yamana as its $1 billion bid for Northern Orion Resources (T.NNO) depends on success.
shares T.YRI are trading up 5 cents at $12.20.
