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Alamos says can't raise Aurizon offer on current information
January 24, 2013 / 12:00 PM / 5 years ago

Alamos says can't raise Aurizon offer on current information

Jan 24 (Reuters) - Alamos Gold Inc said it could not sweeten its C$4.65-per-share offer for Aurizon Mines Ltd as its rival has not provided any new information to warrant a change in the bid.

Aurizon, operator of the Casa Berardi gold mine in Quebec, on Wednesday advised shareholders to reject the C$780 million ($781.1 million) unsolicited bid, calling it inadequate and opportunistic.

The company also adopted a shareholder rights plan, or a poison pill, to find alternatives to the Alamos offer.

Alamos, which currently owns more than 16 percent of Aurizon and is its largest shareholder, said on Thursday it will apply to securities regulators to have the poison pill lifted before the offer expires.

The offer is open until Feb. 19, unless extended or withdrawn.

Alamos, which owns and operates the Mulatos mine in Mexico, said the circular issued by Aurizon on Wednesday provides no new information that would cause it to modify the offer.

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