Lundin Mining up nearly 20%, Equinox down nearly 8%, Inmet down more than 1%
Lundin Mining Corp (LUN.TO) shares still are up nearly 20% and close to 27 million of its shares have traded as the miner said board members are evaluating a buyout offer from Equinox Minerals (EQN.TO) and will communicate a recommendation to Lundin shareholders as soon as possible.
In a statement, Lundin confirmed the reported $8.10 a share offer from Equinox, representing a cash and stock transaction worth about C$4.8 bln. The proposed deal may scupper Lundin's planned $9-billion "merger of equals" with fellow copper miner Inmet Mining Corp (IMN.TO).
Equinox shares were off nearly 8% to 5.78; Inmet shares are down more than 1% at $66.51.
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