First Quantum Ups Inmet Offer To $5.2B After Copper Find

Law360, New York (December 17, 2012, 4:39 PM EST) -- Twice-rebuffed First Quantum Minerals Ltd. on Sunday ratcheted up its unsolicited bid for fellow Canadian copper extractor Inmet Mining Corp. to CA$5.1 billion (US$5.2 billion), following an announcement that Inmet has found more copper at its coveted $6 billion Cobre Panama project.

Vancouver-based First Quantum, a CA$10 billion company, raised its per share offer to an even CA$72 — up just over 15 percent from where it stood one month ago — and went directly to the shareholders with its cash-and-stock proposal, bypassing an Inmet board...
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