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Canadian News
First Quantum Minerals Rejection Of "Mini-Tender" Offer From TRC Capital - Quick Facts
11/3/2009 1:47 PM ET
(RTTNews) -
First Quantum Minerals Ltd. (FM.TO: News ) has been notified of a so-called "mini-tender" offer by TRC Capital Corporation to purchase up to 1 million shares of its common stock, which represents approximately 1.3 percent of its outstanding common stock. First Quantum noted that TRC's unsolicited offer of $66.50 per share was more than 12.2 percent below the closing price of First Quantum's shares on October 29, 2009, the day the offer was commenced.
The closing price of First Quantum's shares on November 2, 2009, was $72.91. First Quantum also noted that the offer is subject to numerous conditions, including receipt of financing by TRC and there being no decrease whatsoever in the trading price of First Quantum stock.
First Quantum notes that it does not in any way endorse the TRC Capital Corporation offer and is in no way associated with TRC Capital Corporation, the offer, or the offer documentation.
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by RTT Staff Writer
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