China's natural resources M&A on the ups
Hot on the heels of AVCJ’s recent China M&A overview, in which higher highs were cited as likely in the country’s ongoing quest to secure future natural resources supplies to keep its development trajectory on track, Minmetals Resources put forward a $6.5 billion (C$6.3 billion) unsolicited takeover offer for Canadian-Australian copper mining company Equinox Minerals on April 3, the largest ever by a Mainland Chinese mining company to this point.
MMR's parent is China Minmetals, a state-owned enterprise (SOE). It is also the country's largest metals trader with a reputation for being aggressively ambitious; two years ago it acquired the ...
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