UPDATE: First Quantum Extends Offer for Inmet Shares, Provides Update on Acquisition; First Quantum Down 1%, Inmet Up Slightly
First Quantum Minerals Ltd. (FM.TO) and its wholly-owned subsidiary FQM (Akubra) Inc. said that as at 11:59 p.m. (Eastern Daylight Time) on March 21, 2013, a total of 60,120,405 common shares of Inmet Mining Corporation (IMN.TO), representing 85.5% of the outstanding Inmet shares, had been validly tendered to First Quantum offer to acquire all of the outstanding shares of Inmet. First Quantum has taken up and accepted for payment all such shares and will pay for such shares on or before March 27, 2013.
The offer has also been extended and will now be open for acceptance until 5:00 p.m. (Eastern Daylight Time) on April 1, 2013 in order to allow Inmet shareholders an additional opportunity to tender to the offer.
FM was down 1% to $20.35 while IMN was up 24 cents to $70.39.
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