Hochschild mining buys out Southwestern

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London-based Hochschild Mining has completed its acquisition of Canada's Southwestern Resources Corporation.

The UK firm's CAD$0.50 (AUD$0.58) per-share offer is a 144 per cent premium on the Vancouver group's closing price on the Toronto Stock Exchange on March 9th - the day before the agreement was first announced.

Due to the long flights required for face-to-face meetings, advisors at both companies could potentially have benefited from using a secure virtual data room to finalise the deal.

By using a data room, executives at Hochschild and Southwestern could have effectively and quickly exchanged encrypted documents using tailored restrictions.

Southwestern said in a statement: "After an evaluation conducted by an independent committee, Southwestern's board has determined that the arrangement is fair to its shareholders and is in the best interests of the company."

It added that it would "resolve to recommend" that stakeholders vote in favour of the takeover.

Elsewhere, Cadbury's Schweppes Australia was recently acquired by the Japanese brewing firm Asahi in an AUD$1.2 billion deal.