Equinox Gold Agrees to Buy Orla Mining in $5.1 Billion Deal (1)

Equinox Gold Corp. agreed to acquire Orla Mining Ltd. in a cash-and-stock deal valuing the Canadian miner at about $5.1 billion.

Gold producers have been consolidating to cash in on record prices for the metal. Buying Orla will give Equinox access to assets across the Americas, including the flagship Camino Rojo mine in Mexico. The combined company will produce about 1.1 million ounces of gold a year, Equinox said Wednesday.

Equinox will pay largely in stock, with Orla shareholders receiving 1 Equinox share and a nominal cash payment of $0.0001 for each share, according to a statement. Equinox shareholders ...