Saw this in a related Money Mail Articlr23 Feb 2020 08:42
This makes me so mad. Think again Mr Cutifani. Sirius investors only saw the opportunity you’re seeing now - plus they put their hard earned money into the project years before you, therefore shouldering all the additional risk. You know the morally right thing to do here and stop pretending the real reason why you’ve chosen this complete buyout route - greed. We investors are not ‘poor little things who didn’t know what they were doing’ and we’re putting up a fight. Go back to the drawing board and do the deal that should be done - not the one that’s wrong on so many levels - LET US KEEP OUR PART OF THE COMPANY - we want Sirius not even AAL - don’t care how you do it - just do it
‘Anglo American considered offering Sirius Minerals investors shares in Anglo itself as part of its takeover bid, the MoS can reveal.
The mining giant behind the controversial £405million takeover of Sirius Minerals looked at the plight of 85,000 small shareholders in the fertiliser miner who face big losses because they had bought into the Yorkshire firm at a higher price than the 5.5p per share being offered by Anglo American.
The alternative idea would have allowed Sirius investors to own Anglo American shares, giving them a likely future return from Sirius’s potentially lucrative mine.
It could have softened the blow for the small shareholders in Sirius – many of them locals who have ploughed life savings and pension pots into the company, which faces going bust after running out of money to complete the potash mine near Whitby.
A City source said: ‘Anglo did not want to be seen to be encouraging large numbers of not very well-informed shareholders to buy stock in a company that they know nothing about.’
Anglo American chief executive Mark Cutifani has insisted his offer for Sirius is ‘fair and reasonable’.
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