Copper Cos. Inmet, Lundin Announce $9B Merger

Law360, New York (January 13, 2011, 1:41 PM EST) -- Inmet Mining Corp. and Lundin Mining Corp. have announced a CA$9 billion ($9.1 billion) merger in which the two Canadian mining companies will combine to form a new international copper producer called Symterra Corp.

The Toronto-based companies said in a joint statement Wednesday that all the issued and outstanding shares of each company would be exchanged for common shares of Symterra at a ratio that represents a premium to neither party.

Under the agreement, each Inmet shareholder will receive about 3.49 shares of Symterra and each...
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