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Tuscon News Now reported yesterday that Augusta Resource Corp. (TSX:AZC), owner of the Rosemont Copper mine in the Santa Rita Mountains in Arizona, is facing a buyout from 10 outside firms, including Hudbay Minerals (TSX:HBM). Directors of Augusta have not provided details of the bids due to confidentiality agreements.
Tuscon News Now reported yesterday that Augusta Resource Corp. (TSX:AZC), owner of the Rosemont Copper mine in the Santa Rita Mountains in Arizona, is facing the possibility of a buyout from 10 interested outside firms, such as Hudbay Minerals (TSX:HBM). Directors of Augusta have not provided details of the bids due to confidentiality agreements.
As quoted in the publication:
Augusta is urging its shareholders to reject a $500 million hostile takeover bid from rival, Canadian miner Hudbay Minerals. Â Augusta and several market observers said the Hudbay offer is too low.