Inmet Mining (IMN.TO) is likely to shy away from a bidding war with Equinox Minerals (EQN.AX) over Lundin (LUN.TO), disappointing investors in the mid-tier copper producer who are banking on an even richer payday. Though copper prices are soaring on the back of raging Chinese demand [ID:nN27203451] [ID:nN28280870], Inmet may have neither the stomach, nor the wherewithal to outbid Equinox, which offered C$4.8 billion ($5 billion) to buy the Canadian base metal miner on Monday. Lundin's 24.75 percent stake in Freeport's (FCX.N) massive Tenke-Fungurume copper-cobalt mine in the Democratic Republic of Congo and its Neves-Corvo copper-zinc mine in Portugal are assets that appeal to both Inmet and Equinox. But many doubt that Inmet will rise to the rival suitor's challenge.
Source
