Implats says Competition Commission approves its RBPlat takeover bid
Impala Platinum (Implats) says the Competition Commission has recommended its takeover bid for smaller rival Royal Bafokeng Platinum (RBPlat) be approved by the Competition Tribunal, the authority whose final go-ahead is needed for the transaction to succeed.
Implats, which has been locked in a bidding war for RBPlats with Northam Platinum since late 2021, said on Friday it had received confirmation from the Competition Commission on April 28 that it would recommend the tribunal approve the transaction subject to certain conditions. The conditions relate to public interest considerations arising from the proposed transaction, which Implats said have largely been agreed between it and the commission after ongoing engagement with the minister of trade, industry & competition...
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