Mercator, Intergeo merger falters amid delays

Aug 04, 2014 | 05:18 PM | Saranya Kapur

Tags  copper, molybdenum, Mineral Park, Mercator, Intergeo, Bruce McLeod, Saranya Kapur

NEW YORK — A proposed merger between Mercator Minerals Ltd., which owns the Mineral Park copper-molybdenum mine in Arizona, and Intergeo MMC Ltd. has been terminated following delays by the Russian Federal Anti-Monopoly Services (FAS).

Intergeo had agreed to invest $100 million in a private placement to Mercator, along with a bridge loan of $14 million (, Dec. 12). The merger was approved by U.S. and Canadian authorities as well as Mercator shareholders in April but still needed approval from the FAS, the federal executive body responsible for foreign investments in Russia.....

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