Waiting for Hernic sale

Mitsubishi is still running Hernic, so it looks like the deal to sell the South African charge chrome producer to Samancor Chrome must be in the offing.

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2.1.12 on 19 March 2018 an unsolicited and improved offer was received from one of the reserve Preferred Finalists. It is noted that this was an offer and not a signed and binding Sale of Business Agreement. The offer was approximately 2.5% to 3% higher in quantum than the Samancor offer. The Practitioners analysed the offer and after consideration of various factors including but not limited to delays and factors that could, nevertheless, still potentially negatively influence the quantum, decided on the following course of action: to continue finalising and execution of the Sale of Business Agreement with Samancor… Read more »