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Oz Minerals makes A$418m bid for Brazil-focused Avanco

Creamer Media Senior Deputy Editor: Australasia
The directors of ASX-listed copper junior Avanco have urged shareholders to accept a A$418-million cash and scrip offer from copper/gold miner Oz Minerals. Oz Minerals on Tuesday launched its takeover offer of 8.5c in cash and 0.009 shares for every Avanco share held. The offer price valued Avanco shares at 16.8c each, a 118% premium on the company’s last closing price.

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