Xstrata extends offer period for SphereXstrata plc announces that, in respect of the all-cash offer for Sphere Minerals Limited announced on 24 August 2010 by Xstrata’s wholly owned indirect subsidiary, Sidero Pty Limited, Xstrata has extended the offer period from 7.00pm (Sydney time) on 25 March 2011 to 7.00pm (Sydney time) on Friday 29 April 2011 (unless further extended).
As announced on 24 August 2010, Xstrata and Sphere entered into an Offer Implementation Agreement for an all-cash offer (the “Offer”) by Xstrata to acquire all of the issued and outstanding shares of Sphere by way of a recommended off-market takeover offer. Xstrata’s Offer is for AUD3.00 per share, valuing Sphere at approximately AUD514 million (US$513 million).
As at 25 March 2011, Xstrata has an interest of 75.72% in Sphere’s shares currently in issue.
