Minmetals Offer of $6.5 billion for the Equinox

An offer of approximately 6.5 billion dollars in cash deposited by Minmetals Resources for the acquisition of Equinox Minerals, in an attempt to gain control of the largest copper mine in Africa.
The offer includes premium of 23% on the closing price of the stock of Equinox on the Toronto Stock Exchange on April 1st. The company’s shares rose today in Sydney by 28%.
The title of Minmetals, part of the state unit of China Minmetals Group, was strengthened in Hong Kong by 0.5%, thus making its market value of the company at 19.6 billion Hong Kong dollars (2.5 billion U.S dollars).
As mentioned in the announcement, the board of Equinox will meet in order to consider the offer. Consultants of Minmetals are the Deutsche Bank and Macquarie Capital Advisors