The Globe and Mail reports in its Friday edition that L1 Capital wants Eldorado to cancel its plans to acquire copper-focused Foran Mining, saying the deal is too costly, involves significant execution risks and has governance concerns. The Globe's Niall McGee writes that L1 Capital has made it clear that if the deal is not aborted, it will vote against it in the upcoming shareholder meeting. Eldorado in early February announced its intention to buy Foran for $3.8-billion in a nil premium, almost entirely stock deal. Foran's most significant asset is the McIlvenna Bay copper and zinc project in Saskatchewan, which is approaching commercial production and is listed among Ottawa' s major projects of national importance, designated for regulatory streamlining. L1 co-chief investment officer Raphael Lamm says Eldorado is overpaying for Foran by using its discounted stock to buy a company that was trading at a premium. He says, "Eldorado is inflicting material value destruction on its shareholders issuing undervalued shares to purchase a theoretically overvalued business." Eldorado shareholders will vote on the issuance of shares related to the transaction on April 7, with a majority of votes required for approval.