trending Market Intelligence /marketintelligence/en/news-insights/trending/wxnvchu-wsrbaggx9wfd7g2 content esgSubNav
In This List

Lundin's Nevsun bid expires

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Lundin's Nevsun bid expires

Lundin Mining Corp.'s failed C$1.4 billion offer to acquire Nevsun Resources Ltd. expired Nov. 9.

Lundin will return all securities deposited under its hostile takeover bid, which was trumped by Zijin Mining Group Co. Ltd.'s C$1.86 billion offer. The company said in a same-day release that it continues to pursue strategic growth opportunities.

Nevsun in August rejected Lundin's bid as it failed to recognized the value of its assets, which include the Timok copper project in Serbia and the Bisha zinc mine in Eritrea.

In September, Nevsun's board unanimously recommended Zijin's richer offer, with Lundin deciding not to amend its own bid.