Hudbay Minerals Inc. entered into an arrangement agreement on March 1, 2026, to acquire all issued and outstanding common shares of Arizona Sonoran Copper Company Inc. that it does not already own for 0.242 Hudbay common shares per share, representing approximately C$9.35 per share and a US$1,480 million equity value. Upon completion, Hudbay will own 100% of the company, with shares delisted from TSX and OTCQX.
Key takeaways
Arrangement Agreement signed March 1, 2026, for plan of arrangement under Business Corporations Act (British Columbia)
Hudbay currently owns 20,844,771 shares (9.99%) of Arizona Sonoran Copper Company Inc.
Transaction consideration: 0.242 Hudbay Share per share (approx. C$9.35/share, US$1,480M equity value based on TSX close Feb 27, 2026)
Post-transaction: Hudbay owns 100%, shares delisted from TSX/OTCQX, potential cessation as reporting issuer
Voting support agreements with directors/officers holding ~1.1% of shares
Existing Investor Rights Agreement dated Jan 31, 2025, with participation and observer rights