Inmet Mining Turns Down First Quantum, Humana/Metropolitan Deal Goes Forward: Merger and Acquisitions
A takeover bid by the copper miner First Quantum Minerals (FQVLF.PK) has been turned down by Inmet Mining Corp. (IEMMF.PK); the proposal valued First Quantum at $70 a share, or approximately $4.9-billion. For its part, Inmet called the cash-and-stock offer “highly conditional” and that its board believes it not to be in the best interests of shareholders.
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Humana’s (NYSE:HUM) pending purchase of Metropolitan Health Networks (AMEX:MDF) may now go forward, as the firms announced in a press release that the early termination of the waiting period under the Hart-Scott-Rodino Anti-Trust Improvements Act of 1976, as amended, has been received linked with the proposed transaction. A meeting of Metropolitan shareholders to consider approval of the purchase is set for December 21st, and if approved, the deal should close by the end of the year.
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