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  5. KL: In your answer to Andrew today, you refer to the AEM takeover of KL as essentially a deal with no premium. [Kirkland Lake Gold Ltd.]
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Q: In your answer to Andrew today, you refer to the AEM takeover of KL as essentially a deal with no premium. Based on yesterday's closing prices the deal is actually 9.1% below the KL closing price of the previous day. That's why KL is down a very large amount today.

Asked by Dan on September 28, 2021
5i Research Answer:

Thanks; we were quoting directly from the press release, which references a 1-day premium based on a 10-day moving average stock price.