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Sibanye Gold wins dispute with dissenting Stillwater shareholders

The Delaware Court of Chancery in the U.S. ruled in favor of Sibanye Gold Ltd. in a dispute with dissenting shareholders of Stillwater Mining Co. over Sibanye's acquisition of Stillwater for US$18 per share.

The company acquired Stillwater in 2017 for US$18.00 per share in cash, in a deal valued at US$2.2 billion.

As a result of the ruling, dissenting shareholders representing about 4.5% of Stillwater's outstanding shares at the time of the deal will receive the same consideration plus interest.

Sibanye said Aug. 23 that it has made provisions to cover the remaining payment of about US$21 million due to the dissenting shareholders.