Equinox Gold and Orla Mining agree to combine

Orla holders will receive one Equinox share for each Orla share, leaving Equinox holders with about 67% of the combined company and Orla holders 33%. The new Equinox, worth about $18.5bn, becomes a major North American gold producer. The deal completed on 31 July 2026.

Why it matters. An at-market share exchange pays little premium, so the case rests on synergies and a higher multiple for scale.

Source

Equinox Gold

In the course

Module 9: The M&A process