Acquisitions : Vale plans public offer to buy Paranapanema

摘要

BRAZIL’S VALE is planning a voluntary public offer to buy up to 100% of the common shares of Paranapanema S.A., subject to the purchase of at least 50% plus one common shares The offer will be extended to all Paranapanema's shareholders at a price per common share of R6.30 ($3.56), corresponding to a premium of 22.3% to the last 90 days’ volume weighted average of the closing prices. In the event that 100% of Paranapanema shareholders join the offer, the total value to be disbursed by Vale will be R 2.01 billion. The auction will be held on September 1, 2010.