Equinox Minerals has extended its offer for Canadian miner, Lundin Mining, and delayed a vote on the deal to April 29, Reuters reports. The company, which offered around $4.8 billion for Ontario-based Lundin Mining, seeks to buy Lundin’s Neves Corvo copper-zinc mine in Portugal and a 24.75% stake in the Tenke Fungurume copper mine in Congo. The offer has been postponed as Equinox is awaiting a formal $6.5 billion takeover bid from China’s Minmetals Resources. The Chinese company, which already has a 4.2% stake in Equinox, will only go ahead with the offer if Equinox drops its bid for Lundin.
Click here for the story from Reuters.
Click here for additional coverage from The Wall Street Journal.