Augusta Resource Corp : * HudBay and Augusta agree to friendly acquisition * Says HudBay has agreed to increase the consideration that will be received by Augusta shareholders * Revised offer represents a total equity value of C$555 million based on 100% of the fully-diluted * Under revised offer, Augusta shareholders will also receive 0.17 of warrant to acquire common share of HudBay for each Augusta common share * Board of Augusta unanimously determined that consideration under the revised offer is fair to Augusta's shareholders * Board has agreed to terminate augusta's shareholder rights plan * Says each full warrant will be exercisable for one common share of HudBay at an exercise price of C$15.00 * As per revised offer, consideration value is approximately C$3.56 per Augusta common share * Agreed, to pay fee of C$20 million to HudBay under certain circumstances if a transaction is not completed * Says board has unanimously determined that the consideration "under the revised offer is fair to Augusta's shareholders" * Hudbay owns 23.1 million shares of Augusta, representing approximately 16% of the issued and outstanding common shares of Augusta * Source text for Eikon * Further company coverage
Augusta Resource Corporation (Augusta) is engaged in the acquisition, exploration and development of natural mineral resource properties. Shares of AZC traded higher by 1.7% or $0.0499/share to $2.98. In the past year, the shares have traded as low as $0.45 and as high as $3.29. On average, 113403 shares of AZC exchange hands on a given day and today's volume is recorded at 182816.
Augusta Resource Corporation (Augusta) is engaged in the acquisition, exploration and development of natural mineral resource properties. Shares of AZC traded higher by 0.31% or $0.01/share to $3.20. In the past year, the shares have traded as low as $0.48 and as high as $3.64. On average, 295836 shares of AZC.TO exchange hands on a given day and today's volume is recorded at 168773.
Source