CORRECTED: Reported Monday, BHP And Lundin Mining To Acquire Filo Corp For C$4.1B, Offering C$33/ Share In Cash And Lundin Mining Shares Or Mix Of Both

Author: Benzinga Newsdesk | July 30, 2024 09:07am

Consideration for the Acquisition to be $33.00 per share in a mix of cash and Lundin Mining shares; concurrently, Filo announces a C$115 Million Private Placement to BHP and Lundin Mining in

Consideration for the Acquisition to be $33.00 per share in a mix of cash and Lundin Mining shares; concurrently, Filo announces a C$115 Million Private Placement to BHP and Lundin Mining in connection with the Acquisition.
 

Highlights of the deal

• Crystalizes immediate value for Filo shareholders and delivers a clear and credible path to developing Filo del Sol to its full potential, backed by two of the world's leading copper miners;
• Consolidation of two key assets in the Vicuña district by the JV creates a market-leading operational footprint in the district and offers:
  • Strong balance sheet capacity to fund future project development;
  • Potential to capture synergies and operational efficiencies; and
  • The ability for Filo del Sol to benefit from recently passed legislation in Argentina benefiting projects entering development;
• Filo shareholders that receive Lundin Mining shares will maintain upside exposure to the JV, while also benefiting from:
  • Jurisdictional and project risk diversification in a company with diversified asset portfolio with long-life assets operating globally;
  • Exposure to strong and increasing cash flow generation and dividends; and
  • Enhanced market profile with greater share liquidity.

Posted In: BHP FLMMF LUNMF