HudBay Launches $489M Hostile Takover Bid For Mining Co.

Law360, New York (February 10, 2014, 5:11 PM EST) -- Toronto-based mining company HudBay Minerals Inc. on Sunday offered to acquire Augusta Resource Corp. in a hostile bid that values Augusta at CA$540 million ($488.8 million) as HudBay eagerly eyes adding to its portfolio Augusta’s flagship Rosemont copper project in Arizona.

HudBay said in a statement that it is putting forth an offer of CA$2.96 per share to acquire all of the issued and outstanding common shares in Augusta that HudBay does not already own. HudBay currently owns approximately 16 percent of Augusta, the company said....
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