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Gold/Mining/Energy : MIRAMAR MINING (MNG)
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To: Henry Volquardsen who wrote (275)10/22/1999 9:24:00 AM
From: SwampDoggRead Replies (1) of 457
 
Miramar Mining Corporation -
Van Sun says Miramar merger dispute heats up
Miramar Mining Corporation MAE
Shares issued 56,693,804 1999-10-21 close $0.97
Friday Oct 22 1999

The Vancouver Sun reports in its Friday edition that the war of words on the Miramar Mining merger is heating up. Reporter Bruce Constantineau says that former Miramar chief executive Walter Berukoff, who is also one of the company's biggest shareholders, says that shareholders should have a chance to consider a $113-million merger offer from Taseko Mines. Taseko chairman Robert Hunter proposed the merger last week in a letter to Miramar chairman Tony Petrina. The proposal values Miramar shares at $2 each, compared with Thursday's closing price of 97 cents. Mr. Berukoff says that if Taseko is proposing that, then every shareholder should have the opportunity to look at it. He says that if there is anything in writing anywhere, then the shareholders should have the opportunity to look at it. He says that is the first rule of business. Miramar executive vice-president Stephen Quin says the company cannot comment on rumours or individual potential corporate transactions. He says, however, that Miramar is an attractive takeover candidate because it has more than $60-million in working capital.

(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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