I own MAR.to as one of my PGM plays. Thank you, Stillwater.........
STILLWATER TO ACQUIRE MARATHON PGM'S PLATINUM GROUP ASSETS; MARATHON PGM TO SPIN OUT GOLD ASSETS
Marathon PGM Corp (TSX : MAR) ("Marathon PGM") and Stillwater Mining Company (NYSE: SWC) ("Stillwater") today announced that they have entered into a definitive agreement (the "Agreement") pursuant to which Stillwater, by way of a plan of arrangement, will acquire all of the outstanding shares of Marathon PGM. The deal to buy Marathon PGM is a 50:50 split of cash and Stillwater shares, based on Stillwater's closing share price at September 3, 2010. According to the terms of the transaction, Stillwater will exchange 0.112 common shares of its stock and Cd$1.775 in cash for each outstanding share of Marathon PGM. Under the provisions of the Agreement, Marathon PGM will also distribute shares of its subsidiary, Marathon Gold Corporation ("Marathon Gold"), to Marathon PGM shareholders before the exchange with Stillwater. Marathon PGM's platinum group metal ("PGM") assets include the Marathon PGM/Copper Project. Total consideration payable by Stillwater for the transaction is valued at approximately US$118 million or Cd$3.55 per Marathon PGM share, which does not take into account the value of the Marathon Gold shares.
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