Quadra
A new foreign bidder has entered the Canadian resources market. Polish state-controlled copper miner KGHM Polska Miedz S.A. made a $2.86 billion friendly cash offer for Vancouver-based rival Quadra FNX Mining Ltd. on December 6. The deal would be the largest overseas acquisition by a Polish company. Poland’s treasury ministry owns 32 percent of Polska Miedz and said on January 26 that it backs the deal. Polska Miedz is Europe’s largest producer of mined copper, and is the ninth-largest copper miner and third-largest silver producer in the world.
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