Sibanye Gold to Buy Stillwater Mining for $2.2 Billion
December 09 2016 - 2:02AM
Dow Jones News
By WSJ Staff
Sibanye Gold Ltd. (SBGL) plans to buy Stillwater Mining Co.
(SWC) for $18 a share in cash, representing an enterprise value of
$2.2 billion.
In a press release Friday, Stillwater, of Littleton, Colo., said
its board approved the deal. The $18-a-share bid represents a 23%
premium to Stillwater's closing price on Dec. 8.
The two largest shareholders of Sibanye Gold, of Johannesburg,
South Africa, have confirmed their support of the deal.
(END) Dow Jones Newswires
December 09, 2016 01:47 ET (06:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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