Zijin Gold to Acquire Allied Gold for C$5.5 Billion in All-Cash Deal

Zijin Gold International Company Limited has agreed to acquire Allied Gold Corporation for C$44 per share in an all-cash transaction valued at approximately C$5.5 billion, the companies announced Monday. The offer closely aligns with InvestingPro’s Fair Value assessment, which indicates Allied Gold is currently fairly valued based on comprehensive financial analysis.

US-listed Allied Gold jumped 5.3% in premarket trading.

The offer represents a 27% premium over Allied Gold’s 30-day volume-weighted average price on the Toronto Stock Exchange as of January 23, 2026. The transaction is expected to close by late April 2026, subject to regulatory approvals. Allied Gold’s stock has delivered an impressive 265% return over the past year and 128% over the last six months, with shares trading at $30.40, near their 52-week high of $30.96.

Allied Gold operates three producing assets and development projects across Côte d’Ivoire, Mali, and Ethiopia. The acquisition will expand Zijin Gold’s presence in Africa and add large-scale gold assets to its portfolio. The company generated $1.07 billion in revenue over the last twelve months with strong revenue growth of 45.4%, making it an attractive acquisition target despite not being profitable during this period.

"The announced Transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the Company’s share price, crystallizing significant and certain value for its shareholders," said Peter Marrone, Chairman and CEO of Allied Gold, in the press release statement.

Directors and officers of Allied Gold, representing approximately 15.4% of outstanding shares, have agreed to vote in favor of the transaction. The deal requires approval from two-thirds of Allied Gold shareholders and regulatory clearances in various jurisdictions including Canada and China.

The transaction follows a strategic review process initiated by Allied Gold in 2024 to evaluate various alternatives to maximize shareholder value.

Upon completion, Allied Gold’s shares will be delisted from the TSX and NYSE, and the company will cease to be a reporting issuer under Canadian and U.S. securities laws.

The agreement includes a termination fee of C$220 million payable by Allied Gold to Zijin Gold under certain circumstances. Outstanding convertible debentures of Allied Gold will be acquired for cash based on conversion terms plus accrued interest.

Zijin Gold, listed on the Hong Kong Stock Exchange with a market capitalization of approximately US$70 billion, operates gold mines across nine countries.