Canadian Mining Journal

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MERGER: HudBay, Lundin deal hits stumbling block

TORONTO - The Ontario Securities Commission (OSC) has set aside the Toronto Stock Exchange's (TSX) Dec. 10, 2008, d...


TORONTO — The Ontario Securities Commission (OSC) has set aside the Toronto Stock Exchange‘s (TSX) Dec. 10, 2008, decision granting conditional approval for the listing of HudBay Minerals shares to be issued in connection with that company’s acquisition of Lundin Mining. The OSC determined HudBay shareholders must vote to approve the deal before additional shares can be issued. A simple majority of votes cast will decide the matter.

 

Lundin shareholders previously voted in favour of the business combination.

 

The deal is also subject to the final approval of the Ontario Superior Court of Justice (Commercial List).

 

Details of the proposal are available at www.HudBayMinerals.com.


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