Nevsun Resources Ltd. logo is seen in this undated handout photo. Nevsun Resources Ltd. says that Chinese company Zijin Mining Group Co. Ltd. has been successful in its $1.86-billion friendly takeover offer for the company. THE CANADIAN PRESS/HO, Nevsun Resources Ltd. *MANDATORY CREDIT*
December 31, 2018 - 5:00 AM
VANCOUVER - Nevsun Resources Ltd. says Chinese company Zijin Mining Group Co. Ltd. has been successful in its $1.86-billion friendly takeover offer for the company.
The companies say about 89.37 per cent of the total issued and outstanding Nevsun shares on a fully diluted basis were tendered to the offer of $6 per share in cash by the Dec. 28 deadline.
The offer has now been extended until Jan. 7 to allow the remaining shareholders to tender their shares.
In August, Nevsun rejected a bid by the Toronto-based Lundin Mining Corp.
Nevsun has a copper-gold project in Serbia and a 60 per cent stake in the copper-zinc Bisha Mine in Eritrea.
Shares in Nevsun closed at $5.95 on the Toronto Stock Exchange on Friday.
Companies in this story: (TSX:NSU)
News from © The Canadian Press, 2018