Implats rules out bidding war for Royal Bafokeng control
The Implats offer to RBPlat shareholders is worth R177.45/share at the stock price on March 3
06 March 2022 - 08:20
Impala Platinum (Implats), the world’s third-largest platinum producer, has placed a ceiling on the price it is willing to pay to secure majority control of Royal Bafokeng Platinum (RBPlat).
Implats, which in January made a general offer of a R90 cash component and 0.30 Implats shares per RBPlat share, intends to obtain majority control. It has already spent R9.2bn on increasing its stake in RBPlats to 35.3% and has provided R19.6bn in cash guarantees, representing the maximum cash payable under the offer...
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