Inmet asks shareholders to reject First Quantum's C$5.1 bln offer

Tue Jan 22, 2013 7:24am EST

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Jan 22 (Reuters) - Inmet Mining Corp asked its shareholders to reject Canadian base-metal miner First Quantum Minerals Ltd's C$5.1 billion hostile offer, terming the bid inadequate.

First Quantum is offering C$72 for each share of its smaller rival.

Inmet said it was evaluating a range of strategic alternatives and has approached a number of third parties who have expressed an interest in considering alternative transactions involving Inmet or its assets.

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