From Mineweb.com: Impala Platinum, the world’s No 2 miner of platinum group metals (PGMs), is to offer ZAR 21bn (US$2.47 bn) to acquire all of Tier II PGM miner Northam, 62% held by Mvelaphanda Resources, “to create a South African controlled platinum champion”.
Impala is also bidding to acquire the balance of Mvelaphanda Resources. The deal values Northam at just over ZAR 51 a share; the stock closed at ZAR 43.50 on Thursday. Impala is proposing to settle 70% of the purchase of Northam in new Impala shares, and the 30% balance in cash. Upon completion, Northam shareholders would receive 24.50 Impala shares for every 100 Northam shares held, and the cash equivalent of 10.50 Impala shares….. Full Article: Source