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Offer For Whitby Potash Mine 'Fair' And 'Provides Certainty'

Offer For Whitby Potash Mine 'Fair' And 'Provides Certainty'

Published by Karen Liu at 1:15pm 20th January 2020.

Shareholders of the potash mine near Whitby are being reassured about its takeover bid.

Sirius Minerals says it's reached an agreement for Anglo American to buy the business.

It will see the company bought for around £405 million, that's 5.50p per Sirius share.

RELATED STORIES: Agreement Reached For Takeover Of Whitby Potash Mine

Anglo American says the offer is fair and it provides certainty for shareholders.

Mark Cutifani, Chief Executive of Anglo American, said:

"We think the certainty that we're providing with the project going forward is very important.

It is still a sizable project, there's still risk and there's still a lot of work to be done.

So from our point of view, we think the value that we've put on the table is fair and so we would hope that retail shareholders would look at what we have to offer going forward."

Listen to his full statement here:

During a media call, Mr. Cutifani was asked about shareholders:

He was also asked about costs:

Job security and if he was going to be syndicating any of the project:

If Anglo American would continue on with the Sirius Minerals Foundation, a charity set up by the company to help local organisations across the Yorkshire Coast:

 

 

Comments

There is 1 comment on this page.

Ian Dixon, on 20th January 2020 9:16pm
Great for everybody except all the locals who believed in the project and put in their savings and pension pots !
How many people in Sirius at the top will get a good job ?
I bet they will be alright while the investors end up with a pittance !
I feel so let down by this outfit after all they promised.
Now instead of a company supported by local shareholders we will have a mine owned by a multi-national.

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