Glencore Offers $73 Million for Remaining Stake in Polymet Mining
July 03 2023 - 11:27AM
Dow Jones News
By Christian Moess Laursen
Polymet Mining said Monday that it has received a non-binding
offer from Glencore to acquire all shares it doesn't already own
for a cash consideration of $2.11 a share.
The offer, which amounts to around $73.0 million, represents a
premium of more than double the $0.79 share price at the close of
business Friday, the Minnesota-based copper miner said.
Glencore already owns a 82% stake in Polymet.
Last month, the Anglo-Swiss commodity miner placed an
acquisition bid for Teck Resources' steelmaking coal unit. Polymet
holds a 50% interest in Newrange Copper Nickel, a joint venture
with Teck Resources.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
July 03, 2023 11:12 ET (15:12 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Glencore (PK) (USOTC:GLNCY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Glencore (PK) (USOTC:GLNCY)
Historical Stock Chart
From Apr 2023 to Apr 2024
