Leucadia National Corp Indicates Current Intention to Tender Common Shares of Inmet To Bid by First Quantum
Leucadia National Corporation ( LUK ) announced overnight that it has filed a report with Canadian securities regulators disclosing that, based on current publicly available information, and in the absence of changed circumstances or new information (including an alternative transaction that would provide greater value), Leucadia would intend to tender the common shares of Inmet Mining Corporation (IMN.TO) that it owns to the take-over bid that has been made by First Quantum Minerals Ltd. (FM.TO) for all of the common shares of Inmet. Leucadia may be considered to beneficially own 11,042,413 (approximately (15.92%)) of the outstanding common shares of Inmet for purposes of applicable Canadian securities laws.
FM has made a C$5.1 billion hostile bid for Inmet. Leucadia is Inmet's biggest shareholder.