HudBay makes unsolicited offer for Augusta Resource

Feb 12, 2014 | 10:27 AM | Barbara O'Donovan

Tags  HudBay Minerals, Augusta Resource, copper, molybdenum, Rosemont, acquisition, David Garofalo, Constancia Barbara O'Donovan

NEW YORK — HudBay Minerals Inc. has set its sights on the Rosemont copper deposit in southern Arizona with an unsolicited offer to acquire all of the issued and outstanding shares in its owner, Augusta Resource Corp.

HudBay, which already owns about 16 percent of Augusta’s shares, said its offer values Augusta at "an enterprise value of approximately Canadian $450 million ($409.3 million) on a fully diluted in-the-money basis."....

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