KGHM one step closer to Quadra FNX takeover

Feb 07, 2012- 2:55 PM

By: Sudbury Northern Life Staff

Polish miner KGHM is one step closer to taking over Canadian mining company Quadra FNX.

Institutional Shareholder Services (ISS), a leading independent corporate governance analysis and proxy voting firm, has approved the deal.

“We are pleased that ISS has confirmed our view that shareholders should support the transaction with KGHM,” Quadra FNX's president and CEO Paul Blythe said, in a press release. “Shareholders have the opportunity to realize a significant premium on our investment.”

In Sudbury, Quadra FNX operates the Podolsky and McCreedy West mines.

Quadra FNX shareholders will vote on the deal at an upcoming meeting in Vancouver Feb. 20.

Posted by Arron Pickard

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