In a surprise move, Augusta Resource Corporation is not seeking shareholder approval of the company’s proposed poison pill strategy to thwart a possible hostile takeover at its upcoming June 20 annual meeting in Vancouver, B.C., according to a regulatory filing.
On April 19, Augusta, which is seeking state and federal permits for the Rosemont copper project southeast of Tucson, announced the board’s adoption of a shareholder “Rights Plan” designed to greatly increase the cost of a hostile takeover. Continue reading