(Bloomberg) -- OAO GMK Norilsk Nickel, the world's largest nickel producer, offered C$5.3 billion ($4.8 billion) for LionOre Mining International Ltd. to break up Xstrata Plc's agreement to buy the Canadian company.
Norilsk's offer of C$21.50 in cash is 16 percent more than the C$18.50-per-share bid made on March 26 by Zug, Switzerland- based Xstrata. The bid from Moscow-based Norilsk, announced today in a statement, is 14 percent more than LionOre's closing price in Toronto yesterday.
Read more at Bloomberg Emerging Markets News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment