Lundin Mining begins all-cash offer to buy Nevsun

Euro Sun Mining

26/07/2018 08:40

July 26 (Reuters) - Canada's Lundin Mining Corp  LUN.TO 
said on Thursday that it formally commenced an offer to acquire
Nevsun Resources Ltd  NSU.TO  for C$4.75 per share in cash,
valuing the base metals miner at around C$1.44 billion ($1.10
billion).  urn:newsml:reuters.com:*:nGNX6h0mgl
    Earlier this month, Nevsun had said that rival Lundin's
offer of C$4.75 undervalues the company and its assets.
 urn:newsml:reuters.com:*:nL4N1UD453
    Lundin Mining said it intends to mail the offer to Nevsun's
security holders. 
    Lundin has been trying to acquire Nevsun's large, high-grade
Timok copper project in Serbia, but had no appetite for Nevsun's
Eritrean mine, so partnered with tiny mine developer Euro Sun
Mining  ESM.TO  for its last buyout proposal for Nevsun.
 urn:newsml:reuters.com:*:nL1N1SI1YS  urn:newsml:reuters.com:*:nL3N1SE62X

($1 = 1.3038 Canadian dollars)

 (Reporting by Rishika Chatterjee in Bengaluru; Editing by Vyas
Mohan)
 ((Rishika.Chatterjee@thomsonreuters.com; within U.S. +1 646 223
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