Inmet Mining has adopted a poison pill or shareholder rights plan in the wake of a second unsolicited takeover bid from copper rival First Quantum Minerals. As Inmet Mining announced Wednesday that it had turned down a C$4.86 billion (US$4.89 billion) unsolicited 50/50 cash-and-stock bid by First Quantum Minerals, Inmet also revealed its board of directors had approved the adoption of a shareholder rights plan the company claimed “is not intended to prevent takeover bids.”
Catégorie : Top Stories
Menacer de nationaliser Florange est scandaleux, dit Parisot
PARIS (Reuters) – Menacer de nationaliser le site ArcelorMittal de Florange comme le fait le gouvernement est scandaleux, a déclaré jeudi la présidente du Medef, Laurence Parisot, une critique rejetée par plusieurs membres du gouvernement.
Xstrata’s Investors Approve a Takeover by Glencore
Shareholders voted yesterady in favor of Glencore International’s $31 billion takeover of the mining company Xstrata, but in a rebuff to the Xstrata board, vetoed multimillion-dollar bonuses for the company’s top managers.In response, John Bond, the chairman of the board, said he would resign after the proposed takeover was completed. Mr. Bond had been in line to be chairman of the combined company.
Congo Seeks 6-Month Extension to $528 Million IMF Loan Program
(Bloomberg) — The Democratic Republic of Congo requested a six-month extension to its three-year, $528 million loan program with the International Monetary Fund in order to comply with its terms, an IMF official said.
‘Conflict-free’ tags help revive Congo minerals trade
* US law crackdown had brought eastern exports to standstill * Tagging scheme restores livelihoods for east Congo miners * Impact of “conflict minerals” crackdown is widely debated * Stockpiled uncertified minerals still a credibility threat By Jonny Hogg