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Anglo American To Buy Sirius Minerals In GBP 404.9 Mln Deal

Anglo American Plc. (AAL.L) said it reached an agreement to buy fertilizer company Sirius Minerals Plc (SXX.L) for 5.50 pence per share in cash, valuing the company at 404.9 million pounds.

The offer price represented a premium of about 34.1 percent to the closing price of 4.10 pence per sirius share on 7 January 2020, last business day prior to the commencement of the offer period.

Sirius Directors plan to recommend its shareholders to vote in favor of the deal.

Mark Cutifani, Chief Executive of Anglo American, said, "Anglo American's recommended offer provides greater certainty for Sirius' Shareholders, employees and wider stakeholders, while bringing the prospects for the development of this potential Tier 1 Project closer to reality."

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