By Joe Hoppe
Sibanye-Stillwater Ltd. said Friday that the Delaware Supreme Court has affirmed its appraisal decision to uphold a deal price for the acquisition of Stillwater Mining Co.
The mining company said that the Stillwater Appraisal Action was brought by a minority group of shareholders in Stillwater, following its acquisition by the group in May 2017 for a cash consideration of $18 per Stillwater share. The consideration, which was equal to the original offer price and interest, was previously paid, Sibanye-Stillwater said.
"We are extremely pleased with the affirmation by the Supreme Court, which confirmed that we followed a process that was fair to all stakeholders," said Chief Executive Neal Froneman, adding that it validated the company's decision to oppose the action.
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(END) Dow Jones Newswires