Sirius Minerals shareholders seek last-ditch deal to stop takeover
Sirius Minerals shareholders seek a last-ditch deal to stop £405m takeover that would leave many of them with virtually nothing
Yorkshire potash miner Sirius says it will need £460m to complete the next stage of the mine under North York Moors
Desperate Sirius Minerals shareholders have launched a last-ditch campaign to find an alternative to a £405million takeover deal that would leave many of them with virtually nothing.
Yorkshire potash miner Sirius is in the process of being taken over by miner Anglo American in a 5.5p per share deal after efforts to raise funds failed in September. Shareholders are due to vote on the deal on March 3.
But a group of investors is trying to drum up support from fellow private and institutional backers for other rescue options, such as a fundraising by selling new shares.
This would keep the company publicly listed and mean investors do not have to cement losses they have made since the share price crashed six months ago.
The group wants to prove there would be enough support for them to conduct a…