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Norilsk Bids $8.7B For UC Rusal Stake

Norilsk Nickel has made an offer to buy a part of United Company Rusal.

Norilsk Nickel has made an offer to buy a part of United Company Rusal (UC Rusal), The Wall Street Journal report. The Russian miner submitted a bid worth $8.75 billion for the acquisition.

As part of the proposal, Norilsk will purchase 28.5 million shares, which represents a 15% stake of the company, at $306 per unit. Rusal, controlled by billionaire Oleg Deripaska, has in the past turned down two offers for selling its stake in Norilsk at a premium.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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