Eramet Acquires Control of Weda Bay Minerals

On May 2, 2006, Eramet S.A. and Weda Bay Minerals Inc. (Weda Bay) announced that 91,596,890 common shares of Weda Bay (representing 95.48 per cent of the Weda Bay common shares outstanding on a fully diluted basis) were deposited to the joint offer by Eramet S.A. and 3132752 Nova Scotia Limited to acquire all of the issued and outstanding Weda Bay shares for $2.70 in cash per Weda Bay common share. The transaction totalled $270 million.
Eramet S.A.'s in-house counsel Gerard Garcia was assisted by Lette Whittaker with a team that included Bernard Lette, Barry Webster and Patrizia Banducci.
Weda Bay was represented by Fasken Martineau DuMoulin LLP with a team led by John Turner that included Greg Ho Yuen, Georges Dubé and Kevin Clinton (corporate/securities) and Mark Warner and Huy Do (competition).