T.IMZ shareholders give green light to Hochschild (HCHDF) merger

Stockhouse Editorial
0 Comments| November 27, 2013

International Minerals Corp. (TSX: T.IMZ, Stock Forum) shareholders have given the green light to a plan that would see the company being taken over by Hochschild Mining (OTO: HCHDF, Stock Forum), its partner in two Peruvian mining projects.

Hochschild is offering about $2.65 in cash and one share of a new Canadian public company for each share of IMZ.

International Minerals said over 99% of the votes cast at the company’s annual meeting were in favour of the plan of arrangement. Hochschild shareholders are set to vote on November 29, 2013.

International Minerals shares were off 0.36% to $2.76 in active trading Wednesday, leaving the company with a market cap of $324.7 million, based on 117.6 million shares outstanding.

The 52-week range is $5.16 and $1.77.

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