LONDON, Feb 19 (Reuters) - Sirius Minerals said on
Wednesday its board was unanimous in recommending shareholders
vote for Anglo American's bid to acquire its fertiliser project
in northern England and if the deal failed there was a high risk
the business would fail.
"We recognise that the current offer does not represent the
value that the Board and shareholders had previously hoped for,"
it said in an emailed statement, but said the company faced a
stark choice.
"In the event of this transaction being unsuccessful there
is a high probability that the business will need to be placed
into administration or liquidation," it said.
Early on Wednesday, hedge fund Odey Asset Management said it
opposed Anglo's offer on the grounds it did not represent fair
value.
(Reporting by Barbara Lewis and Simon Jessop; editing by Jane
Merriman)
Anglo American (AAL)