Sibanye Gold, which has designs on becoming a major platinum group metals player, has met a major antitrust condition in the US as part of its $2.2bn takeover of Stillwater Mining, the largest platinum group metal producer outside SA and Russia. Sibanye, which will hold a rights issue of between $750m and $1bn to fund the deal, expects to close the transaction in the second quarter of this year, giving it an important offshore business, diversifying its geographical and political risk away from SA and Zimbabwe. Sibanye said on Thursday it had received "early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act". The act stipulates that companies must submit detailed documents to the US Federal Trade Commission and the Department of Justice, which will then decide whether the merger or acquisition could negatively affect US commerce. "The effect of the early termination is that the antitrust condition required for the transaction has now been satis...
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