PolyMet Accepts Glencore's Offer To Sell Remaining Shares
Portfolio Pulse from Lekha Gupta
PolyMet Mining Corp (PLM) has agreed to sell its remaining 17.8% of shares to Glencore PLC (GLCNF, GLNCY) for $2.11 per share, a 167% premium over PLM's share price as of June 30, 2023. The deal is expected to close in late Q3 or early Q4. Following the transaction, Glencore will hold 100% of PolyMet shares.
July 17, 2023 | 1:51 pm
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POSITIVE IMPACT
Glencore's acquisition of the remaining shares of PolyMet could potentially strengthen its position in the mining industry.
Glencore's acquisition of the remaining shares of PolyMet could potentially strengthen its position in the mining industry. This could have a positive impact on Glencore's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Glencore's acquisition of the remaining shares of PolyMet could potentially strengthen its position in the mining industry.
Glencore's acquisition of the remaining shares of PolyMet could potentially strengthen its position in the mining industry. This could have a positive impact on Glencore's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PolyMet's shares are being bought by Glencore at a significant premium, which has led to a rise in the stock price.
The acquisition of PolyMet's remaining shares by Glencore at a premium price has led to an increase in PolyMet's stock price. This is a direct impact of the acquisition announcement.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100