OREANDA-NEWS. September 22, 2011. The meeting of the Board of Directors of MMC Norilsk Nickel in absentia was held, reported the press-centre of Norilsk Nickel.

By the majority of votes the Board of Directors approved of the acquisition of the Company’s ordinary registered non-documentary shares and/or ADRs by Norilsk Nickel Investments Ltd (100%-owned by MMC Norilsk Nickel) by announcing a public offer. The date of applications submission shall be determined further on. 

On September, 13 the Board of Directors approved of the offer terms. The offer envisages the acquisition of up to 14,705,882 MMC Norilsk Nickel’s ordinary registered non-documentary shares, representing 7.71% of the Company’s authorized capital. The price of shares and/or ADRs to be purchased from shareholders shall be USD 306 per ordinary registered non-documentary share and USD 30.6 per ADR. Up to USD 4.5 bln. may be spent for the purposes of acquisition.

The offer serves the interests of further growth of the Company’s capitalization and complies with the best corporate governance practices.