US EditionHudbay Minerals to Buy Arizona Sonoran for $1.48 Billion
Hudbay will own 100% of the Cactus project, increasing U.S. copper output and expanding growth pipeline with shareholders holding 89% of combined company post-deal.
- On March 2, 2026, Hudbay Minerals Inc. will acquire the outstanding shares of Arizona Sonoran Copper Company Inc. in an all-stock deal valuing ASCU at US$1.48 billion, paying 0.242 Hudbay shares per ASCU share, implying C$9.35 per share.
- Strategically, the transaction joins ASCU's Cactus project with Hudbay's Copper World project to expand its U.S. footprint and aims to scale production to more than 250,000 tonnes by 2030.
- Hudbay, which already owns 20.8 million common shares representing a 9.99% stake, values the enterprise net of existing ownership at US$1,278 million, with post-closing ownership split about 89% / 11%.
- The deal requires a court‑approved plan of arrangement and shareholder votes, with a special meeting of ASCU securityholders expected in May 2026 and ASCU shares to be de‑listed upon completion.
- Against a backdrop of sector consolidation, Hudbay expects operational efficiencies and $5 to $10 million in annual synergies, strengthening domestic copper cathode production.
17 Articles
17 Articles
The Toronto Star
Hudbay Minerals signs deal to buy Arizona Sonoran in all-stock deal
TORONTO - Hudbay Minerals Inc. has signed a deal to buy Arizona Sonoran Copper Co. Inc. in an all-stock deal that values the company at about US$1.48 billion.
$1.48B Acquisition Forms Third Largest Copper District in North America - Greater Phoenix In Business Magazine
Hudbay Minerals Inc. and Arizona Sonoran Copper Company Inc. announced that they have entered into a definitive agreement pursuant to which Hudbay has agreed to acquire all of the issued and outstanding common shares of ASCU, not already owned by Hudbay, for consideration of 0.242 of a common share of Hudbay per common share of ASCU. The Transaction will result in Hudbay owning a 100% interest in ASCU’s Cactus project. The Transaction brings tog…
Hudbay acquires Arizona Sonoran in a $1.48B all-share copper deal
Hudbay Minerals is acquiring Arizona Sonoran Copper in an all-share transaction that values the latter at approximately $1.48 billion. Under the definitive arrangement agreement, each Arizona share will be exchanged for 0.242 of a Hudbay common share. Based on Hudbay’s last close, the implied consideration is $9.35 per Arizona share, a 30% premium. Hudbay already owns 20.8 million Arizona shares, equal to 9.99% of Arizona’s outstanding basic sha…
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