14/02/2006
Mining giant Antofagasta has launched a friendly £70 million bid for AIM candidate Tethyan Copper.
The bid from fully-listed Antofagasta values Aussie-listed Tethyan, its partner in Pakistan's Reko Diq copper project, at the equivalent of 50p a share. That is a premium of 35 per cent over its price Down Under and 55 per cent more than the existing bid from Skafell, backed by fellow AIM counter Crosby Capital Partners.
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