Fortescue Expands Into Copper by Buying Peru-Focused ...

Fortescue to buy Peruvian copper explorer

With a $151.7 million takeover, the company has backed itself to convince a reluctant community in Peru that it should host a major mine.

Fortescue joins copper rush with $152m Alta takeover

Andrew Forrest’s Fortescue will buy the rest of the shares it doesn’t already own in Peru-focused copper play Alta Copper in a cash deal that puts a $152 million price tag on the target.

Fortescue Expands Into Copper by Buying Peru-Focused ...

Global gains for Fortescue - Mining Magazine Australia

Image: T. Schneider/shutterstock.comFortescue and Alta Copper have announced a binding agreement for Fortescue to acquire the remaining 64 per cent of Alta’s outstanding common shares it does not already own. The transaction, structured as a Canadian plan of arrangement, offers Alta Copper shareholders $1.53 per share in cash, representing a total equity value of $152 million. The $1.53-per-share consideration represents a 50 per cent premium to…

Fortescue to acquire remaining stake in Alta Copper for C$139m

Australian miner Fortescue on Monday announced that it would acquire the remaining 64% of Canada-listed Alta Copper in a cash transaction that valued the copper developer at C$139-million, advancing its strategy to build a global copper portfolio. Under a binding agreement, Fortescue would acquire the shares it did not already own in Alta Copper through a Canadian plan of arrangement, offering cash consideration of C$1.40 a share.

Alta Copper To Be Acquired For $1.40 A Share In Cash

Another junior mining name is leaving the market. Alta Copper (TSX: ATCU) has entered into a definitive agreement with Fortescue Ltd, which will see the latter acquire the remaining interest in Alta Copper that it does not already own. Prior to the arrangement, Fortescue held a 35.7% interest in Alta Copper. The arrangement will see […]