Topic: Growth Stocks

Stock Pickers Digest Hotline – Thursday, December 22, 2011

Article Excerpt

PLEASE NOTE: This is our last Hotline for 2011. Our next Hotline will go out on Friday, January 6, 2012. EUROPEAN GOLDFIELDS, $12.13, symbol EGU on Toronto, is now the subject of a friendly takeover bid from Eldorado Gold (symbol ELD on Toronto). The offer is for 0.85 of an Eldorado share and $0.0001 in cash for each European Goldfields share. European Goldfields’ board of directors has approved the takeover. European Goldfields’ Skouries and Olympias gold projects in Greece and its Certej project in Romania would be good fits for Eldorado, which has mines in Greece and Turkey. Eldorado Gold is now trading at $14.25, which makes the cash and share portions of its offer worth a combined $12.11 per European Goldfields share. European Goldfields is trading just slightly above that price, which indicates that many investors are not expecting a higher offer. However, European Goldfields says it received proposals from a number of potential buyers earlier this year, so a rival bid…

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