UK listed, Chilean-based copper producer Antofagasta PLC has announced that its recommended takeover offer for Tethyan Copper Company Ltd of $1.40 per share will be declared unconditional when its relevant interest in Tethyan shares exceed 50 per cent.
In yet another twist to the ongoing takeover saga over Tethyan Copper Company Ltd, Antofagasta has increased its cash takeover offer for Tethyan to $1.40 per share, up from its original offer of $1.20 per share.
The long-running takeover battle for Tethyan Copper Company Ltd has produced a surprise outcome, with Tethyan negotiating an agreed $190 million offer from Chilean mining company Antofagasta plc.
