Brazil’s Vale to Acquire African Copper, Cobalt Producer Metorex

Platts reported on Vale’s (NYSE:VALE) agreement to acquire Metorex (JNB:MEMTX).

The market news is quoted as saying:

The acquisition price is Rand 7.35/share on the Johannesburg Stock Exchange, totaling Rand 7.524 billion on a fully diluted basis, and equivalent to $1.125 billion at the last closing dollar/rand exchange rate, to be paid in cash.

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