Peru Copper Agrees to $793.3M Takeover

Canadian copper explorer Peru Copper Inc. said Monday it received a friendly takeover offer from mining company Aluminum Corp. of China, or Chinalco, for 840 million Canadian dollars ($793.3 million).

The offer equals about 6.60 Canadian dollars ($6.23) per share and represents a premium of 4.4 percent to the closing price of Peru Copper's stock Friday on the American Stock Exchange.

Peru Copper said its board of directors approved Chinalco's offer and recommended that shareholders agree to the takeover. Peru Copper began a review of its strategic alternatives in November 2005.

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- Posted: 2007-06-11 10:08:51

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