CORPORATE ACTIVITY
Diversified miner South32 has struck a $1.3-billion takeover deal with TSX-listed Arizona Mining, offering to acquire the remaining 83% interest in the company through an all-cash offer.
South32 is offering Arizona shareholders C$6.20 a share for their interest in the TSX-listed miner, which represents a 50% premium to the company’s closing price on June 15, and implies a total value of C$1.6-billion for the company.
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