25 AUGUST 2011shanghai metal market
Norilsk Nickel Board Approves RUSAL Buyback Offer
Edited by : AL CIRCLE
1 min read
Norilsk Nickel , the world's largest nickel and palladium producer, has approved an $8.75 billion offer to buy back its shares from Russia's RUSAL in a bid to resolve a bitter shareholder dispute.
The $306 per share offer for a 15 percent stake, which represents a 20 percent premium to the weighted average market price for the past six months, was approved by Norilsk's board and is valid until 1400 GMT on Sept. 5.
The $306 per share offer for a 15 percent stake, which represents a 20 percent premium to the weighted average market price for the past six months, was approved by Norilsk's board and is valid until 1400 GMT on Sept. 5.
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