Norilsk Nickel has increased its offer to buy out shareholder Rusal, The Wall Street Journal reports. Norilsk will pay Rusal $12.8 billion for a 20% stake in Norilsk, leaving Rusal with 5% of the nickel producer.
Norilsk’s offer will expire on March 4, 2011. Norilsk had earlier offered $14 billion for Rusal’s full 25% stake, which was rejected by Rusal.
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