11:41 AM EST - International Royalty Corp. : says itโs been approached by Franco-Nevada intends to make a formal all-cash offer to IRC shareholders to acquire all common shares of IRC for $6.75 cash per share. The offer price represents 54% premium to the 20 day volume weighted average trading price of IRC shares on the Toronto Stock Exchange for the period ending December 4, 2009 and a 43% premium to the closing price of IRC shares on the TSX on that date. Franco-Nevada intends to mail takeover bid circular, including an offer to purchase, and other related materials to IRC shareholders as soon as practicable. Full details of the terms and conditions of the offer will be provided in Franco-Nevada's takeover bid circular, when filed. If all conditions to the offer are satisfied or waived, it is expected that Franco-Nevada would take up shares tendered under the Offer by as early as mid-to-late January, 2010. International Royalty Corp.
shares T.IRC are trading up $2.35 at $7.06.
