(Reuters) – Global miner BHP Group and Canada-listed Lundin Mining will takeover explorer Filo Corp for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the Filo del Sol and Josemaria projects.
BHP and Lundin will form a 50/50 joint venture to hold both the projects.
Under the deal, BHP is expected to pay a total of $2.1 billion in cash.
BHP and Lundin have offered C$33 per Filo share, reflecting a 12.2% premium to the Canadian copper miner’s last close on Monday.
($1 = 1.3854 Canadian dollars)
(Reporting by Rishav Chatterjee and Gursimran Kaur in Bengaluru; Editing by Alan Barona)
Comments