Russian steel giant buys up British gold miner
Published time: 10 Dec, 2007 05:56 Edited time: 10 Dec, 2007 08:56
Steel giant Severstal is buying UK gold miner Celtic Resources Holdings. It's reported that 81 per cent of Celtic's stock holders have accepted the offer of £2.90 a share, according to Interfax.
Severstal has extended the offer of £2.90 until December 28.
Severstal, which already owns a stake in Celtic, has made several buyout offers to shareholders in recent months. The most recent expired on Friday.