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Derek Rose

YOU WONT BELIEVE: Oz minerals rejects 8 4b offer from bhp | Mind Blowing Facts

Oz Minerals BHP Andrew Cole copper

OZ Minerals CEO Andrew Cole says BHP's $8.4 billion offer undervalues the copper miner. (David Mariuz/AAP PHOTOS) (AAP)

Shares of OZ Minerals have soared by a third after the copper miner's board rebuffed a tentative takeover proposal from BHP.

The OZ Minerals board said BHP's initial offer of $25 per share, a 32 per cent premium to OZL shares' closing price on Friday, significantly undervalued the Adelaide-based company.

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