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OZ looks to Brazil with Avanco takeover

OZ Minerals has announced a A$418 million takeover for smaller miner Avanco Resources

Kristie Batten

OZ will offer 8.5c cash and 0.009 of an OZ share for every Avanco share held, valuing Avanco at 17c per share, a whopping 120% premium to Avanco's closing price yesterday. OZ managing director and CEO...

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