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Wednesday, January 12, 2011

CORRECTED - Lundin Mining, Inmet agree to combine, (TSE: LUN), (TSE: IMN)

Canadian base metals miners Lundin Mining (LUN.TO) and Inmet Mining (IMN.TO) said on Wednesday they will merge to create a new C$9 billion ($8.91 billion) company called Symterra Corp. Under the terms of the deal, each Inmet shareholder will receive 3.4918 shares of Symterra for each share held, while each Lundin shareholder will receive 0.3333 shares of the new company for each share held, the companies said in a statement. ($1=$0.99 Canadian) (Reporting by Cameron French)