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Inmet Mining Corp's Bid To Take Over Petaquilla Minerals Ltd's Fails-Reuters


Tuesday, 6 Nov 2012 12:28pm EST 

Reuters reported that Inmet Mining Corp is backing away from a hostile takeover of Petaquilla Minerals Ltd after its CAD130 million ($130.46 million) offer failed to secure shareholder support. Inmet first offered to buy Vancouver-based Petaquilla in September in a cash-and-share deal that valued the smaller miner at about CAD109 million. It then boosted its offer to some CAD130 million in October. 

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