Inmet Mining (IMN.TO) said on Thursday its offer for Lundin (LUN.TO) is superior to the rival bid from Equinox Minerals (EQN.AX), saying its proposal involves fewer risks and brings better value to shareholders. [ID:nSGE71R0C3] "The Equinox offer for Lundin is a high-risk, low-reward proposition, due to excessive debt, lack of strategy on future asset development plans, questionable growth projections and significant execution risks," said Inmet Chief Executive Jochen Tilk in a statement. The Lundin-Inmet deal, announced in January, is structured as a so-called "merger of equals" and offers no premium to Lundin shareholders. [ID:nN12239651] Under the friendly Lundin-Inmet deal, the two companies would form a major Canadian copper miner called Symterra with a market capitalization of about C$9 billion. Shareholders of Inmet would own 52.6 percent of the new company and Lundin investors the rest. [ID:nN01275157]
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