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ISS Report Recommends Antofagasta’s Duluth Acquisition
Jan. 06, 2015 04:17PM PST
Base Metals Investing Duluth Metals Ltd. (TSX:DM) announced that ISS Proxy Advisory Services has recommended in a report that the company’s shareholders vote in favor of its arrangement with an Antofagasta plc (LSE:ANTO) subsidiary.
Duluth Metals Ltd. (TSX:DM) announced that ISS Proxy Advisory Services has recommended in a report that the company’s shareholders vote in favor of its arrangement with an Antofagasta plc (LSE:ANTO) subsidiary.
As quoted in the press release:
ISS Report states that, ‘A vote FOR [the Arrangement] is warranted based on a review of the terms of the transaction, in particular, the significant cash premium which will provide certainty of value, the reasonable strategic rationale, and the favourable market reaction’.
Under the Arrangement, Antofagasta will, subject to the provisions of the arrangement agreement dated November 21, 2014 between Duluth and Antofagasta (the ‘Arrangement Agreement’), acquire all of the outstanding common shares of Duluth at a price of CDN$0.45 per common share in cash.
Click here to read the full Duluth Metals Ltd. (TSX:DM) press release.