Feb 26 First Quantum Minerals Ltd may
extend its hostile C$5.1 billion ($4.97 billion) bid for rival
base metal miner Inmet Mining Corp by a few days, said
its President Clive Newall on Tuesday.
"There are a number of regulatory hurdles to go over and we
hope they'll all be done by tomorrow, but we may need to extend
slightly," said Newall, while addressing investors at the BMO
Metals & Mining conference in Hollywood, Florida.
The First Quantum bid is currently set to expire at 1700 EST
(2200 GMT) on Wednesday, Feb. 27. First Quantum is offering C$72
for each share of Inmet. The offer, announced in mid-December,
tops its own earlier bids of C$62.50 and C$70 per share.
Last month, Inmet asked shareholders to reject the First
Quantum takeover bid, calling the offer inadequate. The company
said it was in talks with third parties for alternative deals.