Mechel, one of the leading Russian mining and metals companies, has made a mandatory offer to acquire the remaining 28.79 percent stake in coal producer Elgaugol from its minority shareholders for Ruble 14,760.44 (about $600) per share.
The current offer is valid within the 70 days from the receipt of the offer by Elgaugol's minor shareholders (November 22).
As previously reported by SteelOrbis, on October 5 Mechel won the auction for a 68.86 percent stake in Elgaugol and a 75 percent minus one share stake in Yakutugol, both of which are located in the Russian Federal Republic of Sakha Yakutia (Yakutia).