Belgium’s Nyrstar makes friendly C$619mn all-cash bid for Canada’s Breakwater

Mineweb | June 17, 2011 | 2:15 pm Base Metals Canada Zinc

After talks began last September and no other offers materialized, Canadian zinc miner Breakwater Resources (TSX: BWR) announced early Wednesday that it had accepted Belgium based metals producer Nyrstar NV C$7 per share all-cash offer.

Nyrstar will pay around C$619 million for Breakwater; an offer Breakwater CEO David Petroff called “an attractive and fair premium to the current share price,” thanks to a 44% premium.