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Mining giant BHP (BHP) and Canada's Lundin Mining Corp LUN.TO are set to make a joint bid for Filo Corp FIL.TO , two sources told Reuters on Friday.
Lundin, BHP and Filo Corp did not immediately respond to a Reuters request for comment.
The Lundin family holds a 32% stake in copper miner Filo Corp, according to regulatory filings and LSEG data. BHP also holds a 6% stake in Filo. The company is focussed on building the Filo del Sol project in the Chile-Argentina border. Canada-listed shares of Filo on Friday jumped by 9%, trading at C$28.34.
The consideration for a possible takeover comes as there is ongoing work to merge the Josemaria project that belongs to Lundin Mining with Filo del Sol, one of the source said, adding that combining the infrastructure between the mines would cost $5 billion to $8 billion.
At the end of Friday's trading, Filo's market capital was C$3.44 billion ($2.52 billion).
Bloomberg reported earlier on Friday that Lundin had pitched BHP on a joint bid for Filo. ($1 = 1.3634 Canadian dollars)
News: BHP UPDATE 1-BHP, Lundin to make joint bid for Filo Corp, sources say
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Last
$35.64 |
Change
-0.570(1.57%) |
Mkt cap ! $180.9B | |||
| Open | High | Low | Value | Volume |
| $35.80 | $35.95 | $35.52 | $231.5M | 6.490M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $35.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $35.64 | 1836 | 2 |
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| Last trade - 16.15pm 23/06/2025 (20 minute delay) ? |
| BHP (ASX) Chart |