Wednesday, October 22nd10.9°C
23711
23129

HudBay closes offer for Augusta with 96 per cent of shares tendered

TORONTO - HudBay Minerals Inc. (TSX:HBM) said late Tuesday that it has now received about 96 per cent of the shares of Augusta Resource Corp., and it will now buy up the rest at the offer price, closing out a hard-fought takeover battle.

The two companies reached a friendly agreement last month after Toronto-based HudBay improved its all-equity bid — worth about $555 million at the time.

Since then, HudBay shares have since risen in value to $11.45 at the close on Tuesday from $10.29 at the end of trading on June 20.

HudBay's final offer was 0.315 of a common share, worth about $3.61 at the close on July 28, plus 0.17 of a warrant to buy a HudBay common share. The warrants become valuable if HudBay's stock rises above $15 within four years.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14312.07-235.64
S&P CDNX808.00-14.28
DJIA16461.32-153.49
Nasdaq4382.847-36.632
S&P 5001927.11-14.17
CDN Dollar0.8886-0.0009
Gold1243.30-2.20
Oil80.06-0.07
Lumber330.40+1.70
Natural Gas3.657-0.002

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.055-0.025
Anavex Life Sciences0.198+0.006
Metalex Ventures0.05+0.005
Russel Metals32.53-0.56
Copper Mountain Mining2.10-0.07
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.405-0.055

 



23511

FEATURED Property
20124941065 Tataryn Road
2 bedrooms 1 baths
$249,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


22786