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HudBay shares jump on takeover speculation

TORONTO, April 24 (Reuters) - Shares of HudBay Minerals (HBM.TO: Quote, Profile, Research, Stock Buzz) surged more than 6 percent on Friday after the Globe and Mail newspaper reported the miner has hired an investment bank to examine strategic options, including the possible sale of the company.

According to the paper, HudBay has hired TD Securities to examine both potential suitors for HudBay and potential targets for the company to acquire.

"We have hired investment bankers to assist us in the creation of a strategic plan," the paper quoted HudBay Chief Executive Peter Jones as saying.

It also cited sources who identified TD as the bankers it has hired.

Jones began his second stint as HudBay's CEO last month after a failed attempt to take over fellow Canadian miner Lundin Mining (LUN.TO: Quote, Profile, Research, Stock Buzz) prompted a shareholder revolt that forced the company's former board and management to step down.

Shares of HudBay were up 44 Canadian cents at C$7.39 on the Toronto Stock Exchange.

($1=$1.21 Canadian) (Reporting by Cameron French; editing by Rob Wilson)

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