Quadra Mining / FNX Mining
Rumors and speculation usually precede deals, but Canadian mining analysts admitted that they didn’t see it coming when Quadra Mining Ltd. announced its planned takeover of Toronto-based copper miner FNX Mining Company Inc. on March 24. According to the announcement, the $1.6 billion stock deal is a merger of equals that will give Vancouver-based Quadra access to FNX ‘s copper-nickel assets in Sudbury, Ontario. The companies say the deal will marry FNX ‘s experience in mining high-grade underground deposits with Quadra’s high-volume open pit mines and processing assets in the United States and Chile.
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