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Nevsun Resources (NSU) approached by Lundin Mining

  • July 17, 2018


StockNevsun Resources Ltd.SymbolNSU
Date Announced07/16/2018Source Press Release
TypeUnsolicited BidAcquiring Company/Person Zijin Mining Group
Date of Confirmation: 09/05/2018Price at Confirmation: $4.41
Potential Profit: 23.53%Annualized Profit: 168.40%

Lundin Mining Corporation announced today that it intends to make a formal offer to acquire all of the issued and outstanding common shares of Nevsun Resources Ltd. (NSU) for cash consideration of C$4.75 per Share.


July 26, 2018: Lundin Mining Corporation announced today that it has formally commenced the offer to acquire all of the issued and outstanding common shares of Nevsun Resources Ltd.(NSU).

August 09, 2018: Nevsun Resources Ltd. (NSU) today announced that its Board of Directors, after careful consideration and receipt of the recommendation of a special committee of its independent directors, and after consultation with its financial and legal advisors, has rejected the hostile offer by Lundin Mining Corporation, to acquire all of the outstanding shares of Nevsun for C$4.75 per share in cash.

September 05, 2018: Nevsun Resources Ltd. (NSU)and Zijin Mining Group Co. Ltd. today announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash (the “Offer”). The Offer is valued at C$1.86 billion (US$1.41 billion).

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