Clayton Utz is advising ASX and TSX listed copper producer Anvil Mining Limited in connection with an all-cash A$1.3bn takeover bid by Minmetals Resources Limited, announced to the market on 30 September.
Under the bid, Minmetals has agreed to make a cash offer to acquire all common shares of Anvil at a price of C$8.00 (approximately A$7.88) per share. Minmetals has also entered into a lock-up agreement with Trafigura Beheer B.V., Anvil’s largest shareholder.
Anvil’s Board of Directors has concluded that the offer is in the best interests of its shareholders and has unanimously determined to recommend to shareholders that they accept the offer.
Anvil’s operations are based in the Democratic Republic of Congo, where it has been in production since 2002.
Clayton Utz Perth partners Matthew Johnson and Gary Berson are advising Anvil on the transaction.
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