Law360, New York (March 22, 2011, 1:14 PM EDT) -- Toronto-based copper concern Equinox Minerals Ltd. urged shareholders of Lundin Mining Corp. on Tuesday to reject a merger plan with Inmet Mining Corp. and instead accept Equinox's $4.9 billion takeover bid.
Lundin, which runs copper operations in Portugal, Spain and Sweden, had advised its shareholders on Sunday to reject Equinox's offer, saying the proposed purchase price undervalues the company, and that the offer would expose Lundin to risk due to geopolitical instability in Zambia and Saudi Arabia, where Equinox's copper mines are located.
“Additionally, the board...
Equinox Urges Lundin Shareholders To Accept $5B Offer
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