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News // Companies

Norilsk Nickel Pays More for LionOre

18 June 2007 , 13:51520
Russia's Norilsk Nickel said Monday it had extended its cash offer to acquire the common stock of Canada's gold and nickel producer LionOre until June 28.

The Russian metals giant increased its cash offer to 27.5 Canadian dollars (US$25.32) from 21.50 (US$19.42) in cash per share.

Norilsk Nickel and LionOre announced June 15 they had entered into a support agreement in the wake of the Russian metals giant's offer to acquire all of LionOre's outstanding common stock in a friendly, all-cash transaction for around 6.8 billion Canadian dollars (about $6.4 billion) or 27.5 Canadian dollars (US$25.32) per common share.


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