Canada's B2Gold to buy Papillon Resources for $570 mln

June 3 Tue Jun 3, 2014 8:02am EDT

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June 3 (Reuters) - Canada's B2Gold Corp said it would buy Australia's Papillon Resources Ltd for $570 million.

The offer price of A$1.72 ($1.59) per share represents a 21 percent premium to Papillon's close on May 23, the stock's last trading day.

($1 = 1.0806 Australian Dollars) (Reporting by Sneha Banerjee in Bangalore; Editing by Simon Jennings)