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Nyrstar to Acquire Farallon Mining

Nyrstar will take over Farallon Mining in a friendly deal for around $380 million. The European company has offered 80 cents per share for Farallon Mining after close of markets on Monday. The shares last traded at 78 cents on the Toronto Stock Exchange.

Dick Whittington the president and chief executive of Farallon Mining said that they believed the offer represented a meaningful and fair premium to the current share price. The mining company’s chief asset is a zinc mine it operates in Mexico. The Campo Morado mine is about 160 km south west of Mexico City.

The offer from Nystar has received support from the board of directors and senior executives of Farallon Mining. It has also got the blessings of the single largest shareholder in the company, Acuity Investment Management Inc.

Paradigm Capital Inc has also reinforced the belief of the Farallon Mining board and executives as deeming the deal fair from a financial point of view. Nyrstar is a publically listed Belgian company. Its main focus of business is production of zinc metals and alloys along with lead.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.


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