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BHP To Unlock South American Copper Riches: Partners With Lundin For Filo Acquisition

Benzinga ·  Jul 30 17:57

BHP Group Limited(NYSE:BHP) shares are trading lower today. The company andLundin Mining Corp.(OTC:LUNMF) have agreed to jointly acquire all outstanding shares ofFilo Corp.(OTC:FLMMF) for a total consideration of about C$4.1 billion, or C$33.00 per Filo share.

The offer represents a 32.2% premium over Filo Corp.'s 30-day volume-weighted average price on the TSX as of July 11, 2024, the day before transaction rumors surfaced, and a 12.2% premium over the company's last closing price on July 29, 2024.

BHP's total cash payment for the proposed transaction is projected to be around $2.1 billion.

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