Hecla Mining makes $781.7-million friendly offer to buy Aurizon Mines
VANCOUVER – Aurizon Mines Ltd. (TSX:ARZ) has received a white-knight takeover offer from Hecla Mining Co., a U.S.-based silver, gold and metals producer. Hecla is offering the equivalent of $781.7 million in a combination of cash and stock. Hecla’s offer is valued at C$4.75 per share — 40 cents per share above Aurizon’s closing stock price on Friday and 10 cents per share above a hostile takeover bid from Alamos Gold Inc. (TSX:AGI). Aurizon’s board has rejected the Alamos bid as too low.
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