Sibanye’s $2.2 Billion Stillwater Deal Ruled Fair in Delaware

Oct. 13, 2020, 11:05 PM

Sibanye Gold Ltd.’s $2.2 billion acquisition of Stillwater Mining Co., the only U.S. company that extracts platinum and palladium, was fair, Delaware’s top court ruled, rejecting an appeal by two investment funds that claimed a Chancery Court judge rubber-stamped the deal price.

“The Court of Chancery examined Stillwater’s sale process, explained its reasoning, and grounded its conclusions in the relevant facts and law,” Justice Tamika Montgomery-Reeves wrote for the state Supreme Court. “The court dedicated 56 pages of its 139-page decision to examining the reliability of the deal price.”

The decision is the latest in a series of...

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