NATURAL RESOURCES

Mega-Merger of Copper Giants to Pressure Rivals: The $2.4-billion acquisition of Magma Copper Co. by Australian resources giant Broken Hill Proprietary Co. creates a strong No. 2 world producer of the key industrial metal and puts pressure on rivals to cut costs, analysts said. The transpacific marriage was greeted warmly by analysts, but some wondered if the long-term copper price used to evaluate the deal was too optimistic and if BHP had picked the right moment to make its move. Under the deal, Melbourne-based Broken Hill will pay $1.8 billion, or $28 a share, to buy the stock of Magma. But the total cost of the acquisition will be higher because Broken Hill has agreed to assume Magma’s debt. On the New York Stock Exchange, the stock of Tucson-based Magma soared, rising $6.25, or about 30%, to $27.625,-- just shy of BHP’s offer.