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Stillwater Mining Company Announces Completion of Acquisition by Sibanye
May. 04, 2017 09:15AM PST
Precious Metals InvestingStillwater Mining (“Stillwater”) today announced that it has completed its merger with an indirect wholly-owned subsidiary of Sibanye Gold (“Sibanye”), pursuant to which Sibanye acquired Stillwater for $18.00 per share in cash. Stillwater President and CEO Mick McMullen commented: “I am grateful for the hard work of our employees and management team in building this great …
Stillwater Mining (“Stillwater”) today announced that it has completed its merger with an indirect wholly-owned subsidiary of Sibanye Gold (“Sibanye”), pursuant to which Sibanye acquired Stillwater for $18.00 per share in cash.
Stillwater President and CEO Mick McMullen commented:
“I am grateful for the hard work of our employees and management team in building this great company. Stillwater’s leadership team is well positioned for success as part of Sibanye.”
Transaction Details
As previously announced, each share of Stillwater common stock will be cancelled and converted into the right to receive $18.00 per share in cash.
As part of the transaction, Stillwater’s common stock is being delisted from the New York Stock Exchange, and Stillwater shareholders will be provided with instructions on how to receive the merger consideration for their shares by Computershare Trust Company N.A., in its capacity as transfer agent for the transaction.
About Stillwater Mining Company
Stillwater Mining Company is the only U.S. miner of platinum group metals (PGMs) and the largest primary producer of PGMs outside of South Africa and the Russian Federation. PGMs are rare precious metals used in a wide variety of applications, including automobile catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine and coinage.