Arcon to merge with Lundin Mining
Exploration and mining group Arcon said today that agreement has been reached in principle on the terms of a merger with Lundin Mining.
To effect the proposed merger, Lundin Mining would make an offer, subject to an 80% minimum acceptance condition, for the entire issued share capital of Arcon in exchange for $63m (€47.9m) cash, currently equivalent to approximately €0.276 per Arcon ordinary share, and 5.6 million shares in Lundin Mining, currently equivalent to approximately €0.262 per Arcon ordinary share.