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Bloomberg reported that former Xtrata CEO Mick Davis has his eye on several Vancouver listed copper miners. On the list of possible takeover candidates were Hudbay Minerals (TSX:HBM), Capstone Mining (TSX:CS) and Imperial Metals (TSX:III).
Bloomberg reported that former Xtrata CEO Mick Davis has his eye on several Vancouver listed copper miners. On the list of possible takeover candidates were Hudbay Minerals (TSX:HBM), Capstone Mining (TSX:CS) and Imperial Metals (TSX:III).
As quoted in the publication:
A deal in Canada could be a prelude to the bigger acquisition he’s been seeking for some time, the people said, who asked not to be identified because the deliberations are private. Davis’s X2 Resources is weighing an eventual bid for South32 Ltd., the miner being spun off next month by BHP Billiton Ltd. that’s been the subject of takeover speculation, they said.
In the meantime, X2 is looking at Canadian companies with copper, coal or nickel mines and is pursuing assets with a value of $500 million to $2.5 billion, said the people. Davis may conclude a deal within six months, the people said.