UPDATE: Inmet On Exploration of Strategic Alternatives - Has Approached "A Number" of Third Parties
On the exploration of strategic alternatives, Inmet Mining (IMN.TO) said:
"The Board of Directors, through its Special Committee and with the assistance of their respective financial and legal advisors, together with Inmet's management, is actively engaged in evaluating a range of additional strategic alternatives aimed at enhancing shareholder value. Inmet has approached a number of third parties who have expressed an interest in considering alternative transactions involving Inmet or its assets. Inmet has entered into confidentiality and standstill agreements with a number of interested parties, several of which are examining confidential financial, operating and other relevant information. Discussions are ongoing with several of these third parties and others in order to generate value-enhancing alternatives.
"Tendering Inmet Shares into the First Quantum Offer before the Board of Directors and its advisors have had the opportunity to fully explore all available alternatives to maximize shareholder value may preclude the emergence of a financially superior alternative transaction.
"The First Quantum Offer is scheduled to expire at 5:00 pm ET on February 14, 2013 and is subject to a number of conditions that have yet to be satisfied. The Board of Directors recommends that Inmet shareholders not take any action until closer to the expiry date to ensure that Inmet shareholders are able to consider all of the options available to them."
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