Minmetals Unveils $6.5B Equinox Takeover Bid

Law360, New York (April 4, 2011, 6:01 PM EDT) -- Chinese state-owned minerals trading firm Minmetals Resources Ltd. said Sunday that it would make a $6.5 billion cash offer for Canada’s Equinox Minerals Ltd., provided the company drops its attempt to acquire Lundin Mining Corp.

Minmetals said it would pay around $7 apiece for all Equinox shares it does not already own, a price that represents a 33 percent premium on the shares’ 20-day volume-weighted average closing price on Friday, according to the company.

MMR CEO Andrew Michelmore said his company’s acquisition of Equinox aligned with...
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