June 23 Augusta Resource Corp said it
agreed to be bought by HudBay Minerals Inc
after the company raised its offer to buy Augusta shares it does
not already own.
The revised offer values Augusta at about C$555 million
($511 million), HudBay said. HudBay owns about 16 percent of
Under the offer, Augusta shareholders will receive 0.17 of a
warrant to buy one HudBay share for each Augusta share in
addition to the original offer of 0.315 HudBay shares per
The offer price of about C$3.56 per Augusta common share
represents a premium of about 11 percent to Augusta's Friday
close on the Toronto Stock Exchange.
($1 = 1.0853 Canadian Dollars)
(Reporting by Ashutosh Pandey in Bangalore; Editing by