The Delaware Supreme Court has affirmed the favourable decision by the Delaware Court of Chancery regarding dual-listed Sibanye-Stillwater’s decision to uphold the price of its acquisition of Stillwater Mining Company.
The action was brought by a group of dissenting Stillwater shareholders, following the acquisition by Sibanye in May 2017 for a cash consideration of $18 per Stillwater share.
The consideration to the dissenting shareholders, which was equal to the original offer price plus interest, was previously paid.
Stillwater CEO Neal Froneman said the latest court ruling “again validates [the company’s] decision to oppose the action and protect the interest of its stakeholders”.