Augusta rejects HudBay’s ‘lowball’ bid

Feb 24, 2014 | 02:50 PM | Daniel Fitzgerald

Tags  HudBay Minerals, Augusta Resource, copper, molybdenum, Rosemont project, Gil Clausen, Richard Warke, Daniel Fitzgerald

NEW YORK — Augusta Resource Corp.’s board of directors has slammed an unsolicited takeover bid from HudBay Minerals Inc. as "grossly inadequate," and urged shareholders to reject the offer.

HudBay, which already owns about 16 percent of Augusta’s shares, launched a bid earlier this month that valued Augusta at about Canadian $540 million ($488 million) on a fully diluted basis (, Feb. 12).....

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