Xstrata has prolonged the offer on LionOre purchase
Swiss mining company Xstrata Plc has renewed the offer on purchase of LionOre Mining International from May, 25th till June, 7th, 2007. As it is spoken in Xstrata’s application terms of the offer have remained without changes.
On May, 24th, 2007 LionOre Mining management has declared, that the offer on purchase of the company from Russian “Norilsk nickel” for 6,3 billion dollars is more favorable, than Xstrata’s offer with 5,7 billion dollars for the Canadian manufacturer of nickel and gold.
The “Norilsk nickel”’s offer will be valid for acceptance till 20:00 - the time in Toronto on June, 18th 2007 if it will not be prolonged or withdrawn.
“Norilsk nickel” has declared reception of acknowledgement from the Commission on a competition and consumers of Australia (ACCC) on absence of objections on purchase LionOre for money resources.
On May, 15th, 2007, “Norilsk nickel” has met with approval of the transaction from the Bureau on a competition of Canada, on May, 22nd - from Federal of cartel department of Germany. “Norilsk nickel” continues to work in a direction of the duly coordination of its offer as other adjusting bodies in corresponding jurisdictions.
“Norilsk nickel” is the largest mining and metal cutting company in Russia, the world’s largest manufacturer of nickel and a palladium, which also produces platinum, copper, cobalt, rhodium, silver, tellurium, selenium, iridium, and ruthenium. Group «Norilsk nickel» is engaged in search, investigation, extraction, enrichment and processing of minerals, it also manufactures marketing and realization of color and precious metals.
“Norilsk nickel”’s shares are being bargained at the Russian stock exchanges of RTS and the Moscow Interbank Stock Exchange. In 2001 the company has started the program American first rank depository receipts.
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