BHP and Lundin Mining to Acquire McEwen Mining in US$4.4 Billion Deal

Key Points

• BHP and Lundin Mining to acquire McEwen Mining in an all-cash transaction valued at US$4.4 billion.
• The deal is expected to close in the second half of 2023.
• McEwen Mining's shareholders will receive US$24.00 per share in cash.

Further Details

BHP, the world's largest mining company, and Lundin Mining have announced a definitive agreement to acquire McEwen Mining, a Canadian copper and gold mining company, in an all-cash transaction valued at US$4.4 billion.

Under the terms of the agreement, McEwen Mining shareholders will receive US$24.00 per share in cash. The transaction has been unanimously approved by the boards of directors of BHP, Lundin Mining, and McEwen Mining.

The acquisition is expected to close in the second half of 2023, subject to customary closing conditions and regulatory approvals.

BHP and Lundin Mining believe that the acquisition of McEwen Mining will provide them with a significant opportunity to increase their exposure to the copper market, which is expected to benefit from the growing demand for electric vehicles and renewable energy.