Lundin Mining shares jump on BHP takeover talk |
| Reuters - Aug 9, 2011 |
Shares of Lundin Mining (LUN.TO: Quote) rose more than 19 percent on Tuesday, after a British newspaper report cited rumors that mining giant BHP Billiton (BHP.AX: Quote)(BLT.L: Quote) could be considering a bid.
The Daily Telegraph's Tuesday edition said in its market report that Anglo-Australian miner BHP was rumored to be in talks with zinc producer Nyrstar, previously linked to Lundin's Zinkgruvan mine in Sweden, over a joint bid for the group.
The report pushed Lundin's shares up 64 Canadian cents to C$5.05 Tuesday morning on the Toronto Stock Exchange.
Shares of Lundin have been pummeled in recent months, after a proposed tie-up with Inmet Mining (IMN.TO: Quote) fell apart and its hunt for an alternative proposal failed.
As of Monday, Lundin's Toronto-listed shares had fallen more than 50 percent and were well below their 52-week high of C$9.31.
Read Full Article from Reuters
- Posted: 2011-08-09 10:33:59
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