03:10 PM EST, 01/16/2020 (MT Newswires) -- Kirkland Lake Gold (KL.TO) on Thursday said two influential proxy advisory firms, Institutional Shareholders Service (ISS) and Glass Lewis, are recommending shareholders vote in favor of the company's C$4.52 billion offer for Detour Gold (DGC.TO).

According to Kirkland Lake, ISS said its offer of 0.4343 of its shares for each Detour share will add a long-lived asset. add gold reserves and strengthen its balance sheet, while Glass Lewis called the arrangement "both strategically and financially compelling".

"We are pleased that the leading proxy advisors have unanimously endorsed this deal and encourage all shareholders to vote For the Detour Gold acquisition in advance of the January 24th deadline," chief executive Tony Makuch said in a release.

Originally valued at C$4.9 billion, Kirkland Lake shares have eased since announcing the friendly deal on November 26, lowering the value of the deal.

Kirkland Lake shares were last seen down C$0.685 to C$57.815 on the Toronto Stock Exchange.

Price: 57.81, Change: -0.87, Percent Change: -1.48