June 18, 2018 / 12:27 AM / 3 months ago

BUZZ-Australia's South32 falls after bidding for Canadian miner at 50 pct premium

** Shares of manganese miner South32 Ltd fall as much as 3.9 pct to A$3.750, snapping two sessions of gains

** Co said it would acquire the remaining 83 pct in Canadian base metal miner Arizona Mining for $1.3 bln

** Deal at C$6.20 ($4.70) per share, representing a 50 pct premium to Arizona Mining’s last close of C$4.13

** Shares post their steepest intraday pct loss since May 4

** As of Friday’s close, stock up 13 pct this year ($1 = 1.3203 Canadian dollars)

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