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Lundin says no plan to amend takeover offer for Nevsun

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Lundin says no plan to amend takeover offer for Nevsun

Responding to Zijin Mining Group Co. Ltd.'s recent C$6.00-per-share all-cash takeover bid for Nevsun Resources Ltd., Lundin Mining Corp. said it will not amend its previous C$1.4 billion takeover offer for Nevsun.

In early August, Nevsun rejected the hostile takeover offer from Lundin, saying the C$4.75-per-share cash offer "fails to recognize the fundamental and strategic value" of its assets, including the Timok copper project in Serbia and the Bisha zinc mine in Eritrea.

Nevsun's board unanimously recommended Zijin Mining's acquisition bid offer, which valued the Canadian miner at about C$1.86 billion.

Lundin noted Sept. 6 that it continues to pursue strategic growth opportunities.