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Norilsk Raises Rusal Offer To $12.8B

Norilsk Nickel has increased its offer to buy out shareholder Rusal.

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.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Bloomberg.

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