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

Hudbay Minerals

02/03/2026 11:39

** 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

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))