UPDATE: Minmetals Acquires Over 90% of Shares of Anvil Mining; Changes Made to the Anvil Board; Anvil Edging Higher

By Midnight Trader,  February 17, 2012, 09:54:00 AM EDT

Minmetals Resources Limited today announced that it has acquired, through the Offeror, over 90% of the outstanding common shares of Anvil Mining Ltd. (AVM.TO) under the Offer and that the Offer has now expired and will not be extended.

The Offer was accepted by holders of more than 90% of the issued and outstanding Common Shares, Minmetals intends to exercise its rights under the compulsory acquisition provisions of the Business Corporations Act (Northwest Territories) to acquire all of the outstanding Common Shares that it does not currently own.

In connection with the foregoing, at the request of Minmetals, all of the members of the board of directors of Anvil, other than Darryll Castle, have resigned and several individuals were appointed to the Anvil board.

AVM edged higher by almost 1% to $7.99 in the morning. More than 8,000 AVM shares have already changed hands.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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