This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Mercator Minerals to acquire Stingray Copper 2009-10-02 08:53 ET - News Release Also News Release (C-SRY) Stingray Copper Inc
Mr. Michael Surratt of Mercator reports MERCATOR MINERALS AND STINGRAY COPPER ANNOUNCE FRIENDLY BUSINESS COMBINATION Mercator Minerals Ltd. and Stingray Copper Inc. have jointly executed a binding agreement to complete a business combination, by way of a plan of arrangement or other form of business combination. Under the agreement, Mercator will acquire all of the issued and outstanding shares of Stingray at an agreed exchange ratio of 0.25 Mercator share per Stingray share. This represents a 51.6-per-cent premium to Stingray shareholders based on the closing price of both companies as of Oct. 1, 2009, and a 71.4-per-cent premium to Stingray shareholders based on the 20-day volume-weighted average share price (VWAP) of both companies. The transaction is expected to close before the end of the year and, upon closing, Stingray shareholders will hold approximately 8 per cent of the combined company. The boards of directors of Mercator and Stingray have unanimously approved the terms of the transaction. The remainder is available to Stockwatch subscribers.
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