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Monday, February 28, 2011

Lundin CEO sees no strategic benefit in Equinox bid, (TSE: LUN), (EQN), (TSE: IMN)

Lundin Mining (LUN.TO) Chief Executive Phil Wright said on Monday he sees no strategic benefit in Equinox Minerals' (EQN.AX) unsolicited C$4.8 billion ($5 billion) takeover bid, saying that Lundin's proposed tie-up with Inmet Mining (IMN.TO) is a superior proposal. [ID:nN27203451] "What are the possible strategic operational benefits that come from a combination with Equinox? I've looked and I see zero. If they're there, they're eluding me at this stage," said Wright, while addressing the BMO Metals & Mining Conference in Florida. "If you ask me in terms of portfolio combination which is the better portfolio, Lundin-Equinox or Lundin-Inmet, then unequivocally, without focusing on the value issues, I can say that I think the Lundin-Inmet combination is something that is vastly superior," he said.

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