lundin ceo sees no benefit

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Says Lundin-Inmet combination is "vastly superior"
* Sees combination with Equinox as too risky

TORONTO Feb 28 (Reuters) - Lundin Mining (LUN.TO: Quote) Chief Executive Phil Wright said on Monday he sees no strategic benefit in Equinox Minerals' (EQN.AX: Quote) unsolicited C$4.8 billion ($5 billion) takeover bid, saying that Lundin's proposed tie-up with Inmet Mining (IMN.TO: Quote) is a superior proposal. [ID:nN27203451]

"What are the possible strategic operational benefits that come from a combination with Equinox? I've looked and I see zero. If they're there, they're eluding me at this stage," said Wright, while addressing the BMO Metals & Mining Conference in Florida.

"If you ask me in terms of portfolio combination which is the better portfolio, Lundin-Equinox or Lundin-Inmet, then unequivocally, without focusing on the value issues, I can say that I think the Lundin-Inmet combination is something that is vastly superior," he said.

Notwithstanding his comments, Lundin said his company's board will review the Equinox bid and issue a recommendation to shareholders soon. It has advised investors not to act on the Equinox bid at this time.

Equinox's cash and stock bid, worth C$8.10 a share, comes about a month after Lundin and Inmet agreed to join forces to form a Canadian copper mining major called Symterra, worth about C$9 billion. Shareholders of both Lundin and Inmet are due to vote on that deal on March 14.

Inmet CEO Jochen Tilk, who was making a joint presentation along with Wright at the event, said he strongly believes that Inmet's proposal is a superior transaction.

TOO MUCH RISK Continued...