Hudbay Minerals to buy Arizona Sonoran in $1B deal

The Copper World project in southern Arizona. (Image courtesy of Hudbay Minerals.) Hudbay Minerals (TSX, NYSE: HBM) said on Monday it will acquire Arizona Sonoran Copper Company (TSX: ASCU) (OTCQX: ASCUF) in an all-share deal valued at about C$1.48 billion ($1 billion), creating what the companies say will be the third-largest copper district in North America.The Canadian miner will issue 0.242 of a common share for each Arizona Sonoran (ASCU) share it does not already own, valuing it at C$9.35 per share ba ...