CPNFF - Nevsun Rejects A Takeover Offer; Is A Hostile Attempt Next?
Yesterday, Lundin Mining (LUNMF) and Euro Sun Mining (CPNFF) announced that they submitted a proposal to acquire Nevsun Resources (NSU) for C$1.5 billion ($1.156 billion), however, this offer was rejected by Nevsun's management. Lundin and Euro Sun offered approximately C$5 ($3.85) per Nevsun's share. Lundin was prepared to pay C$2 ($1.54) in cash and C$2 ($1.54) in shares and Euro Sun was to pay C$1 ($0.77) in shares. As a result, Lundin would acquire all of Nevsun's European assets, including Timok and Euro Sun would acquire all of the