Anglo in possible ￡386m Sirius rescue bid

摘要

Sirius Minerals is in talks with Anglo American about a ￡386 million cash offer for its UK-based polyhalite mine project.Anglo is potentially offering to buy-out Sirius Minerals at a price of 5.50 pence per share.This would provide shareholders with a 34 percent premium on the company's 7th January share price,the level shares were trading at before the takeover talks were announced.Sirius shares were valued as high as 37 pence,going back to August 2018,but were trading at just over four pence a share before Anglo's approach was revealed.The proposed buy-out price”could provide certainty to Sirius’shareholders",Anglo said in a statement.Sirius Minerals confirmed on 8th January that its board was in”advanced discussions”with Anglo American.Under UK takeover rules,Anglo now has until 5th February to make a formal offer for the business.Sirius has told Anglo that it expects to recommend the takeover to its shareholders,if a firm offer is made at the currently proposed share price.