Shareholders of Arizona Sonoran Copper Company have voted in favour of the proposed buyout of the company by diversified miner Hudbay Minerals for $1.48-billion in an all-share transaction.
The deal, first announced in March, is expected to create the third-biggest copper district in North America and will combine Arizona Sonoran's Cactus project with Hudbay's Copper World development.
Arizona Sonoran notes that, assuming that all remaining approvals are obtained and all other remaining conditions precedent are satisfied or waived, the deal is likely to be concluded in the second quarter of this year.
