Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Vancouver-based Nevsun agrees to takeover bid by Chinese firm Zijin
Vancouver-based Nevsun Resources Ltd. says it has reached an agreement to be acquired by a Chinese firm for $1.86 billion.
In a news release Wednesday morning, Nevsun says Zijin Mining Group Co. Ltd. will acquire all of its issued and outstanding shares at $6 per share in cash.
It says details of the offer will be included in a circular that Zijin will send to Nevsun shareholders in the coming days.
The Vancouver company’s board of directors is recommending that shareholders accept the Chinese company’s offer.
In August, Nevsun said it had rejected a bid by the Toronto-based Lundin Mining Corp.
The company says its board is recommending that shareholders reject that offer, worth $1.4 billion.
News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
