Business Week reported that KGHM Polska Miedz SA, (WAR:KGHM) plans to buy Quadra FNX Mining Ltd. (TSX:QUX) for about C$2.87 billion ($2.84 billion).

As quoted in the market news:

KGHM will pay C$15 a share, a 41 percent premium to Quadra’s 20-day volume-weighted average price, the Vancouver- based company said today in a statement.

Click here to read the full Business Week report.