Minmetals May Need to Raise C$6.3 Billion Equinox Bid 29%

Minmetals Resources Ltd., a unit of China’s biggest metals trader, may need to raise its C$6.3 billion ($6.5 billion) unsolicited cash offer for Equinox Minerals Ltd. about 29 percent to win over investors in the copper producer.

“If you’re long-term shareholders and willing to own this for the next two to three years, this offer, C$7 a share, is nothing,” said Huy Hoang, a fund manager at Singapore-based HDH Capital Management Pte, which owns about 1 million shares in Equinox. He said C$9 a share is just the “starting point.”