Euro Sun Mining has reported that the company has amended its portion of the joint proposal with Lundin Mining to acquire Nevsun Resources
Euro Sun Mining (TSX:ESM) has reported that the company has amended its portion of the joint proposal with Lundin Mining (TSX:LUN) to acquire Nevsun Resources (TSX:NSU) to include CA$150 million in cash andCA$150 million in Euro Sun stock.
In early may Euro Sun and Lundin Mining had revealed they were attempting to engage with Nevsun to aquire the Canadian miner and it’s European and African copper assets.
As quoted in the press release:
The company encourages Nevsun’s management and board of directors to engage as it is in the best interests of all stakeholders. The total proposed consideration of CA$5.00 per share for the acquisition of all Nevsun stock includes CA$150M cash from Euro Sun and CA$600M cash from Lundin Mining along with CA$150M in Euro Sun stock and CA$600M in Lundin Mining stock. Euro Sun’s stock portion only represents 10 percent of the total consideration in this proposal.