May 7 (Reuters) - Lundin Mining Corp:
* LUNDIN MINING AND EURO SUN DISCLOSE PROPOSAL TO ACQUIRE NEVSUN RESOURCES
* CO, SUN MINING INC SUBMITTED PROPOSAL TO NEVSUN RESOURCES TO BUY NEVSUN FOR APPROXIMATELY C$1.5 BILLION
* LUNDIN MINING SAYS ITS “NUMEROUS ATTEMPTS TO ENGAGE NEVSUN AND PROPOSE A MUTUALLY BENEFICIAL TRANSACTION HAVE BEEN UNSUCCESSFUL”
* UNDER TERMS OF PROPOSAL, DATED APRIL 30, 2018, NEVSUN SHAREHOLDERS WOULD RECEIVE TOTAL CONSIDERATION OF C$5.00 PER NEVSUN SHARE
* PROPOSAL WOULD RESULT IN CO OWNING NEVSUN’S EUROPEAN ASSETS, EURO SUN OWNING REMAINDER OF NEVSUN INCLUDING BISHA MINE, CASH BALANCE
* SAYS “WE REMAIN FULLY COMMITTED TO NEGOTIATING A TRANSACTION WITH NEVSUN”
* UNDER PROPOSAL TERMS, TOTAL CONSIDERATION CONSISTS OF C$2.00 IN CASH FUNDED BY CO; C$2.00 IN SHARES OF CO; C$1.00 IN SHARES OF EURO SUN
* SUBMITTED FIRST PROPOSAL TO NEVSUN ON FEBRUARY 7, 2018 AND A FURTHER PROPOSAL ON FEBRUARY 25, 2018, BOTH OF WHICH WERE REJECTED
* ON APRIL 3, SUBMITTED PROPOSAL TO BUY NEVSUN’S EUROPEAN ASSETS, INCLUDING TIMOK PROJECT, FOR CASH & SHARES, WHICH WAS ALSO REJECTED Source text for Eikon: Further company coverage:
