Anglo American PLC said Monday that it has agreed to purchase Sirius Minerals PLC for 5.5 pence in cash per share.
said that the acquisition by its wholly owned subsidiary, Anglo American Projects UK Ltd., values the entire issued and to be issued share capital of Sirius at 404.9 million pounds ($526.5 million).
The cash offer that Sirius
shareholders will receive compares with the previous day’s closing price of 5.4 pence.
The company said that Sirius Minerals’ North Yorkshire polyhalite project has the potential to become a world-class, low-cost and long-life asset.