Goldcorp to buy Andean Resources for $3.42B

Competition to acquire ounces in the ground will drive up the price of junior resource companies with good managements, properties, and locations. Fear of ownership will transition into fear of missing the next big move as merger and acquisitions, driven by lots a money chasing dwindling solid opportunities, will drive gold stocks higher in the coming months and years.

Canada's Goldcorp Inc. said Friday it has agreed to buy Andean Resources Ltd. for about 3.6 billion Canadian dollars (US$3.42 billion), trumping a rival bid from Eldorado Gold Corp.

Source: finance.yahoo.com