July 17, 2018 / 12:44 PM / in a month

BUZZ-Nevsun Resources: Says Lundin's bid undervalues co, shares surge

** Shares of base metals miner rise 11 pct to $3.55 in premarket after it says Lundin Mining Corp’s latest bid undervalues the company

** Lundin on Monday offered to buy NSU for C$1.4 billion, lower than its previous offer of C$1.5 billion

** NSU says Lundin’s offer ignores the “fundamental value” of the company and its assets

** Lundin’s notional takeover offer represents only a 13 pct premium to Nevsun’s Toronto closing of C$4.21 on Monday, says CEO Peter Kukielski

** U.S. listed shares of NSU were up ~21 pct YTD, Canadian shares up ~38 pct (Reporting by John Benny in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below