Inmet Investors Usher In $5B Offer From First Quantum

Law360, New York (March 12, 2013, 3:54 PM EDT) -- Canadian copper miner First Quantum Minerals Ltd. on Tuesday extended its unsolicited CA$5.1 billion ($5 billion) tender offer for rival Inmet Mining Corp., saying that it has all but clinched the deal after an outpouring of shareholder support.

So far, the holders of 61.5 percent of Inmet's outstanding shares have thrown their stakes behind the offer. The support nearly hits the two-thirds approval mark required under First Quantum's original proposal, though the company said it knocked down its minimum tender condition to 50 percent, effectively paving...
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