Lundin Mining (TSX:LUN) and Euro Sun Mining (TSX:ESM) today announced that they have submitted a proposal to Nevsun Resources (TSX:NSU) to acquire all of Nevsun’s outstanding common shares for approximately CA$1.5 billion, and have been rejected.
As quoted in the press release:
Working together, Lundin Mining and Euro Sun have identified a way to create significant value. Under the terms of the proposal, dated April 30, 2018, Nevsun shareholders would receive total consideration of CA$5.00 per Nevsun share consisting of: CA$2.00 in cash funded by Lundin Mining; CA$2.00 in shares of Lundin Mining; plus CA$1.00 in shares of Euro Sun. The proposal would result in Lundin Mining owning the European assets of Nevsun including the Timok project and Euro Sun owning the remainder of Nevsun including the Bisha mine and Nevsun’s cash balance.
Lundin Mining and Euro Sun believe strongly that the Proposal should be shared with all Nevsun shareholders.
Click here to view the full Lundin Mining (TSX:LUN) press release.
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