Dominion Lending Centres Clearlease Reports Breakwater Resources (TSX:BWR) to be acquired by Nyrstar in $663-million friendly takeover
VANCOUVER, BC (June 15, 2011) Dominion Lending Centres Clearlease Reports Canadian base metals miner Breakwater Resources Ltd. (TSX:BWR) has received a $663-million friendly takeover offer from a Belgian company Wednesday June 15, 2011.
Nyrstar NV, a producer of zinc metals, alloys and lead that’s publicly listed in Belgium, put forward the proposal valued at $7 per share or $619 million.
A special dividend of 50 cents per share will also be paid to Breakwater shareholders on the day before Nyrstar purchases the shares. That dividend will cost approximately $44 million.
Breakwater says it has a binding agreement under which Nyrstar will buy all of its issued and outstanding shares at a 44 per cent premium to its Tuesday closing price of $5.20 on the Toronto Stock Exchange.
Shares of the company rose more than 43 per cent, or $2.25, to $7.45 on the Toronto Stock Exchange in early trading on Wednesday.
“In recent light of how the markets been on its downtrend, and our stock closing last night … this is a significant premium,” Breakwater CEO David Petroff said in a short conference call on Wednesday morning.
“Hanging on is an option but with time you take on many more risks.”
Petroff said the company’s board of directors has unanimously recommended that shareholders tender their shares in favour of the Nyrstar offer.
He also noted that Dundee Corp. (TSX:DC.A), which owns 22 per cent of Breakwater and is headed by investor Ned Goodman, also entered a lockup agreement.
“The offer made by Nyrstar represents an attractive and fair premium to the current share price,” Petroff said.
“The tremendous efforts of our employees and the investments in the productivity and efficiency of our operations have been effective in drawing the attention of an internationally respected integrated smelting company.”
Toronto-based Breakwater is a mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates. The company’s concentrate production is derived from three mines in Chile, Honduras and Canada.
Nyrstar is a global multi-metals business, producing significant quantities of zinc and lead as well as silver, gold and copper.
The offer for Breakwater comes after the company managed to improve the results of its operations in a number of strategic moves that included selling off a portion of the royalties on its Myra Falls mine.
The company’s stock had been on a tear prior to the economic downturn, climbing above $35 per share, but once markets crashed it never returned to its lustre.
At one time, Breakwater stock was below 75 cents per share before the company opted to consolidate shares on a 10-for-one basis.
Petroff said he believes market uncertainty makes the timing of the potential Breakwater acquisition appealing to stakeholders.
“Many of the risks with regard to the operations we’re comfortable handling, but there are many risks elsewhere in the world, both the broad economy and the geopolitical nature of things,” he said.
“With time is risk, this is cash and it’s now.”
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (June 15, 2011) Dominion Lending Centres Clearlease Reports Canadian base metals miner Breakwater Resources Ltd. (TSX:BWR) has received a $663-million friendly takeover offer from a Belgian company Wednesday June 15, 2011.
Nyrstar NV, a producer of zinc metals, alloys and lead that’s publicly listed in Belgium, put forward the proposal valued at $7 per share or $619 million.
A special dividend of 50 cents per share will also be paid to Breakwater shareholders on the day before Nyrstar purchases the shares. That dividend will cost approximately $44 million.
Breakwater says it has a binding agreement under which Nyrstar will buy all of its issued and outstanding shares at a 44 per cent premium to its Tuesday closing price of $5.20 on the Toronto Stock Exchange.
Shares of the company rose more than 43 per cent, or $2.25, to $7.45 on the Toronto Stock Exchange in early trading on Wednesday.
“In recent light of how the markets been on its downtrend, and our stock closing last night … this is a significant premium,” Breakwater CEO David Petroff said in a short conference call on Wednesday morning.
“Hanging on is an option but with time you take on many more risks.”
Petroff said the company’s board of directors has unanimously recommended that shareholders tender their shares in favour of the Nyrstar offer.
He also noted that Dundee Corp. (TSX:DC.A), which owns 22 per cent of Breakwater and is headed by investor Ned Goodman, also entered a lockup agreement.
“The offer made by Nyrstar represents an attractive and fair premium to the current share price,” Petroff said.
“The tremendous efforts of our employees and the investments in the productivity and efficiency of our operations have been effective in drawing the attention of an internationally respected integrated smelting company.”
Toronto-based Breakwater is a mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates. The company’s concentrate production is derived from three mines in Chile, Honduras and Canada.
Nyrstar is a global multi-metals business, producing significant quantities of zinc and lead as well as silver, gold and copper.
The offer for Breakwater comes after the company managed to improve the results of its operations in a number of strategic moves that included selling off a portion of the royalties on its Myra Falls mine.
The company’s stock had been on a tear prior to the economic downturn, climbing above $35 per share, but once markets crashed it never returned to its lustre.
At one time, Breakwater stock was below 75 cents per share before the company opted to consolidate shares on a 10-for-one basis.
Petroff said he believes market uncertainty makes the timing of the potential Breakwater acquisition appealing to stakeholders.
“Many of the risks with regard to the operations we’re comfortable handling, but there are many risks elsewhere in the world, both the broad economy and the geopolitical nature of things,” he said.
“With time is risk, this is cash and it’s now.”
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Breakwater Resources (TSX:BWR) to be acquired by Nyrstar in $663-million friendly takeover
VANCOUVER, BC (June 15, 2011) Dominion Lending Centres Clearlease Reports Canadian base metals miner Breakwater Resources Ltd. (TSX:BWR) has received a $663-million friendly takeover offer from a Belgian company Wednesday June 15, 2011.
Nyrstar NV, a producer of zinc metals, alloys and lead that’s publicly listed in Belgium, put forward the proposal valued at $7 per share or $619 million.
A special dividend of 50 cents per share will also be paid to Breakwater shareholders on the day before Nyrstar purchases the shares. That dividend will cost approximately $44 million.
Breakwater says it has a binding agreement under which Nyrstar will buy all of its issued and outstanding shares at a 44 per cent premium to its Tuesday closing price of $5.20 on the Toronto Stock Exchange.
Shares of the company rose more than 43 per cent, or $2.25, to $7.45 on the Toronto Stock Exchange in early trading on Wednesday.
“In recent light of how the markets been on its downtrend, and our stock closing last night … this is a significant premium,” Breakwater CEO David Petroff said in a short conference call on Wednesday morning.
“Hanging on is an option but with time you take on many more risks.”
Petroff said the company’s board of directors has unanimously recommended that shareholders tender their shares in favour of the Nyrstar offer.
He also noted that Dundee Corp. (TSX:DC.A), which owns 22 per cent of Breakwater and is headed by investor Ned Goodman, also entered a lockup agreement.
“The offer made by Nyrstar represents an attractive and fair premium to the current share price,” Petroff said.
“The tremendous efforts of our employees and the investments in the productivity and efficiency of our operations have been effective in drawing the attention of an internationally respected integrated smelting company.”
Toronto-based Breakwater is a mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates. The company’s concentrate production is derived from three mines in Chile, Honduras and Canada.
Nyrstar is a global multi-metals business, producing significant quantities of zinc and lead as well as silver, gold and copper.
The offer for Breakwater comes after the company managed to improve the results of its operations in a number of strategic moves that included selling off a portion of the royalties on its Myra Falls mine.
The company’s stock had been on a tear prior to the economic downturn, climbing above $35 per share, but once markets crashed it never returned to its lustre.
At one time, Breakwater stock was below 75 cents per share before the company opted to consolidate shares on a 10-for-one basis.
Petroff said he believes market uncertainty makes the timing of the potential Breakwater acquisition appealing to stakeholders.
“Many of the risks with regard to the operations we’re comfortable handling, but there are many risks elsewhere in the world, both the broad economy and the geopolitical nature of things,” he said.
“With time is risk, this is cash and it’s now.”
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk