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Australia's South32 to buy 83% stake in Arizona Mining for US$1.3b

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Australia's South32 Ltd on Monday said it would acquire the remaining 83 per cent of Toronto listed company Arizona Mining for US$1.3 billion in cash.

[BENGALURU] Australia's South32 Ltd on Monday said it would acquire the remaining 83 per cent of Toronto listed company Arizona Mining for US$1.3 billion in cash.

The offer is for a price of C$6.20 (S$6.35) per share, and directors of Arizona Mining unanimously recommend voting in favour of the transaction, South32 said in a statement.

REUTERS

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