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Aurizon Agrees to Acquisition by Hecla Mining
- Client News
- March 4, 2013
Paul, Weiss client Aurizon Mines Ltd. announced that it had entered into an agreement with Hecla Mining Company pursuant to which Hecla will acquire all of the issued and outstanding common shares of Aurizon for aggregate consideration of approximately Cdn$796 million. Under the terms of the agreement, Aurizon shareholders may elect to receive Cdn$4.75 or 0.9953 of a Hecla share in exchange for each Aurizon common share, subject in each case to pro-ration. Aurizon entered into the agreement with Hecla following receipt of an unsolicited offer from Alamos Gold Inc. and the completion of a process in which the Aurizon board of directors reviewed and evaluated a range of alternatives focussed on maximizing value.
The Paul, Weiss team that acted as U.S. counsel in the transaction included corporate partners Christopher J. Cummings and Adam M. Givertz; litigation partner Mark Mendelsohn; tax partner David Mayo; and antitrust counsel Didier Malaquin.