Summary
Southern Copper Corporation (SCCO) announced on February 4, 2009, a significant strategic move through a take-over bid for Frontera Copper Corporation. This all-cash offer, valued at approximately C$42 million (C$0.65 per share), signals SCCO's intent to expand its operations and asset base in the mining sector. The acquisition, if successful, is expected to bolster SCCO's position in the industry by integrating Frontera's assets.
Key Highlights
- 1Southern Copper Corp. (SCCO) announced a take-over bid for Frontera Copper Corporation.
- 2The acquisition is an all-cash offer valued at approximately C$42 million.
- 3The offer price is C$0.65 per outstanding common share of Frontera Copper.
- 4The transaction aims to expand SCCO's mining asset portfolio.
- 5Frontera Copper Corporation is a Canadian mining, development, and exploration company.
- 6The formal offer and take-over bid circular is expected to be filed by February 13, 2009.