Equinox Rejects Minmetals' C$ 6.3 Bln Takeover Bid

(Beijing) -- Australian copper miner Equinox Minerals Ltd. (EQN.AX) (EQN.TO) on April 8 rejected a hostile takeover bid by China's Minmetals Resources Ltd. (1208.HK), calling it "opportunistic."

Equinox president and chief executive Craig Williams said in a statement that the offer price of C$ 7 per share was a "low premium" and a "fraction of premiums paid in recent acquisitions of base metal mining companies."