Canada Jinchuan Resources Ltd., a wholly owned Canadian subsidiary of Jinchuan Group Ltd., announced on March 11, 2008, the successful completion of its offer to acquire all of the outstanding common shares of Tyler Resources Inc. The acquisition was made by way of an all cash take-over bid whereby each Tyler shareholder received $1.60 per share, representing an equity value of Tyler Resources of approximately $206.4 million.
Jinchuan Group Ltd, a state-controlled corporation existing under the laws of the People's Republic of China, is a large integrated non-ferrous metallurgical and chemical engineering company located in the city of Jinchang, in Gansu Province, China, and is engaged in mining, concentrating, metallurgy and chemical engineering. It produces nickel, copper, cobalt, rare and precious metals and also some chemical products. Jinchuan is the largest producer of cobalt, nickel and platinum group metals in China. Jinchuan is also the largest copper producer in northern China.
Tyler is a Canadian junior exploration company focused on base and precious metals exploration in Mexico that traded on the TSX Venture Exchange under the symbol “TYS.”
Jinchuan was represented by Davies Ward Phillips & Vineberg LLP in Canada with a team comprised of Shawn McReynolds, Sarbjit Basra, Christian Gauthier and Jonathan Ip (mergers & acquisitions) and Ian Crosbie and Duncan Osborne (tax); and by De Ovando y Martínez del Campo, S.C. in Mexico, with a team comprised of Fernando de Ovando, Raúl Farías, Gabriela Alvarez Román (corporate), Manuel Romano (competition) and Juan Manuel Gonzalez Olguin (mining).
Tyler was represented by Burnet, Duckworth & Palmer LLP in Canada with a team comprised of Bill Maslechko, Fred Davidson and Scott D. Kearl (mergers & acquisitions), and David Ross (tax).