Equinox Minerals to launch hostile bid for Lundin Mining
Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday.
"Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time."
The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.