Inmet says its offer for Lundin is superior


"The Equinox offer for Lundin is a high-risk, low-reward proposition, due to excessive debt, lack of strategy on future asset development plans, questionable growth projections and significant execution risks," said Inmet chief executive Jochen Tilk in a statement.


Under the friendly Lundin-Inmet deal, the two companies would form a major Canadian copper miner called Symterra with a market capitalisation of about $C9 billion. Shareholders of Inmet would own 52.6 per cent of the new company and Lundin investors the rest.

Equinox has argued that its $C4.8 billion bid, announced in February, offers Lundin shareholders a significant premium.


