Euro Sun Mining Inc. (TSX:ESM) made a proposal to acquire Nevsun Resources Ltd. (TSX:NSU) for CAD 1.5 billion on April 30, 2018. Under the terms of the proposal, Nevsun shareholders would receive total consideration of CAD 5 per Nevsun share consisting of CAD 2 in cash funded by Lundin Mining Corporation (TSX:LUN), CAD 2 in shares of Lundin Mining and CAD 1 in shares of Euro Sun. Upon acquisition of the Nevsun shares, Euro Sun would then sell Nevsun’s European assets – including the Timok project – to Lundin.  As of June 4, 2018, Euro Sun Mining amended its portion of the joint proposal with Lundin Mining to include CAD 150 million in cash and CAD 150 million in Euro Sun Mining stock. The total proposed consideration of CAD 5 per share for the acquisition of Nevsun stock includes CAD 150 million cash from Euro Sun and CAD 600 million cash from Lundin Mining along with CAD 150 million in Euro Sun stock and CAD 600 million in Lundin Mining stock. Euro Sun's stock portion only represents 10% of the total consideration in this proposal. The transaction would result in Lundin Mining owning the European assets of Nevsun including the Timok project and Euro Sun owning the remainder of Nevsun including the Bisha mine and Nevsun's cash balance. On July 16, 2018, Lundin Mining Corporation (TSX:LUN) made an offer to acquire remaining 98.7% stake in Nevsun Resources Ltd. (TSX:NSU) from Adrian Day Asset Management, Dale Peniuk, Paul McRae, Jinhee Magie and other shareholders for CAD 1.4 billion. The transaction is subject to shareholders’ approval. As of May 7, 2018, the proposal was rejected by Board of Nevsun stating that the proposal does not fully value Timok, overvalues Euro Sun’s Rovina project, has significant structural issues including CAD 100 million in estimated cash tax costs payable by Euro Sun, which is expected to be largely borne by existing Nevsun shareholders, majority consideration being paid in shares which have historically been volatile and do not provide certainty of value and it being fundamentally uncertain as it is contingent on completion of Euro Sun shareholder approvals, waiver or expiry of a right of first refusal held by Freeport-McMoRan Exploration Company and due diligence. The rejection was done after careful consideration and receipt of the recommendation of a special committee of Directors of Nevsun. TD Securities Inc. and GMP Securities L.P. acted as financial advisors, Cassels Brock & Blackwell LLP and Adam M. Givertz and Ian M. Hazlett of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to Lundin Mining Corporation. Haywood Securities Inc. acted as financial advisor and Bennett Jones LLP acted as legal advisor to Euro Sun Mining. Navigator Limited acted as strategic communications advisor to Lundin Mining and Euro Sun. Borden Ladner Gervais LLP acted as legal advisor and Citi acted as financial advisor to Nevsun’s Special Committee. Blake, Cassels & Graydon LLP acted as legal advisor to Nevsun. BMO Capital Markets acted as financial advisor to Nevsun. Euro Sun Mining Inc. (TSX:ESM) cancelled the acquisition of Nevsun Resources Ltd. (TSX:NSU) on September 5, 2018. Zijin Mining Group Company Limited (SEHK:2899) entered into a definitive agreement to acquire the remaining 98.9% stake in Nevsun Resources Ltd. (TSX:NSU) for CAD 1.8 billion on September 5, 2018.