Hudbay Minerals falls on deal to buy Arizona Sonoran for $1.48 billion

ReutersMar 2, 2026 11:39 AM

U.S.-listed shares of Canadian miner Hudbay Minerals HBM.TO, HBM.N fall 1.2% to $28 premarket

Co says it will buy shares of Arizona Sonoran Copper Company ASCU.TO it does not already own for $1.48 billion

Each ASCU shareholder will receive 0.242 of a Hudbay share for each share held, representing deal value of C$9.35 per ASCU common share

The share price offered represents a premium of 29.5% to ASCU's closing price on Friday

The transaction is expected to be completed in Q2 2026

Up to last close, HBM up 42.72% YTD

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