VANCOUVER, British Columbia and PERTH, Australia, June 17, 2018 – South32 Limited (ASX:S32) (JSE:S32) (LSE:S32) (ADR:SOUHY) (South32) and Arizona Mining Inc. (TSX:AZ) (Arizona Mining) announced today that they have entered into an agreement for South32 to acquire the remaining 83 per cent of issued and outstanding shares of Arizona Mining via a plan of arrangement, representing a fully funded, all cash offer of US$1.3 billion1 (C$1.8 billion). The offer price of C$6.20 per share represents a 50 per cent premium to the closing price on 15 June and implies a total equity value for Arizona Mining of US$1.6 billion1 (C$2.1 billion). Directors and officers of Arizona Mining, who own 34 per cent of the common shares on issue, have entered into voting support agreements and the directors of Arizona Mining entitled to vote, have unanimously recommended to their shareholders that they vote in favour of the transaction.
more http://arizonamining.com/news/index.php?&content_id=453