Arizona Sonoran Copper Company to Be Acquired by Hudbay Minerals in $1.5 Billion Deal

Paul, Weiss is advising Arizona Sonoran Copper Company on its all-stock take-private acquisition by Hudbay Minerals Inc., a copper-focused mining company with operations in Canada, Peru and the United States. Under the agreement, Hudbay will acquire all ASCU shares that it doesn’t already own for a consideration of 0.242 of a Hudbay common share per ASCU common share, an equity value of $1.5 billion. Upon closing, expected in the second quarter of 2026, Hudbay will own all of ASCU’s Cactus project in Arizona and ASCU will be delisted from the Toronto Stock Exchange.

The Paul, Weiss team is led by corporate partner Ian Hazlett and associate Aaron Abramson, and includes executive compensation partner Christopher Gonnella; tax partner Matthew Jordan; litigation partner Nathan Mitchell; and antitrust counsel John Magruder.