04:22 PM EST - Yamana Gold Inc. : today upped its offer to acquire Meridian Gold Inc. (TSX:MNG) by 50 cents per share, softening what was initially a hostile bid. Meridian's board has agreed to recommend acceptance of the offer, which increases by $50 million to about $3.5 billion after months of debate over pricing. Under the revised offer, each Meridian share will be exchanged for $7 in cash - up from $3.15 when the proposal was first presented June 27 - plus 2.235 Yamana shares. The acquisition will create one of the top five gold producers in the world. Yamana Gold Inc.
shares T.YRI are trading down 41 cents at $12.14.
