UPDATE: QUX Shares Lose 9 Cents at Midday

By
A A A

Quadra FNX Mining (QUX.TO) is down 9 cents at midday, and shares are currently trading at $14.97. It is the third most actively traded on the TSX, with more than 3.28 million shares changing hands.

QUX said last Monday that proxy advisory firm Institutional Shareholder Services ( ISS ) had recommended that Quadra shareholders vote in favor of Polish miner KGHM's C$3 billion offer for the Canadian miner.

ISS advised its clients to vote in favor of KGHM's bid for Vancouver, British Columbia-based Quadra, given that "there have been no alternate offers and there are no governance concerns."

"We are pleased that ISS has confirmed our view that shareholders should support the transaction with KGHM," Quadra Chief Executive Paul Blythe reportedly said in a statement.

For the KGHM bid to succeed, it requires two-thirds of the votes cast by Quadra shareholders at the special shareholder meeting scheduled for February 20 in Vancouver.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ISS

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Russell’s One Good Reason
Russell’s One Good Reason           
Tammy’s One Good Reason
Tammy’s One Good Reason             
Lisa’s One Good Reason
Lisa’s One Good Reason              
Tammy’s #OneGoodReason
Tammy’s #OneGoodReason              

Stocks

Referenced

Most Active by Volume

63,412,897
  • $7.421 ▲ 23.89%
48,303,527
  • $8.9501 ▼ 4.99%
48,176,112
  • $17.15 ▲ 0.70%
30,430,046
  • $74.85 ▲ 1.00%
29,612,741
  • $33.756 ▲ 3.61%
26,017,847
  • $101.27 ▲ 1.25%
24,585,695
  • $107.6383 ▲ 0.62%
24,347,732
  • $4.059 ▼ 8.99%
As of 10/31/2014, 01:50 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com