Nunavut Iron Ore Acquisition has revised its offer for Canadian mining company, Baffinland Iron Mines, The Wall Street Journal reports. The company has added a warrant exchange right to its bid for the Toronto-based company, adds Bloomberg.
Nunavut, which is backed by U.S. private equity firm, Energy & Minerals Group, has also extended its offer till January 25. The new offer by Nunavut values the junior miner’s equity at well over $503 million.
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