Augusta Resource Faces Bidding War

Tuscon News Now reported yesterday that Augusta Resource Corp. (TSX:AZC), owner of the Rosemont Copper mine in the Santa Rita Mountains in Arizona, is facing the possibility of a buyout from 10 interested outside firms, such as Hudbay Minerals (TSX:HBM). Directors of Augusta have not provided details of the bids due to confidentiality agreements.

As quoted in the publication:

Augusta is urging its shareholders to reject a $500 million hostile takeover bid from rival, Canadian miner Hudbay Minerals.  Augusta and several market observers said the Hudbay offer is too low.

Click here to read the full Tuscon News Now article.