- Sirius Minerals has announced it is in 'advanced discussions' with Anglo American regarding a possible all cash offer of 5.5p per Sirius share.

It said the proposal represents a premium of 34.1% to the closing price of 4.1p per Sirius share on 7 January 2020 and a 46.5% premium to the volume-weighted average price of 3.75p per share since its 17 September 2019 strategic review announcement up to 7 January 2020.

In a statement, Sirius Minerals said: 'Subject to the successful outcome of ongoing discussions (including satisfactory assurances as to the safe-guarding of employee and other stakeholder interests and the agreement of the full terms and conditions of any offer), the board of Sirius has indicated to Anglo American that it expects to be able to recommend a firm offer for Sirius if made by Anglo American at the price set out in the proposal.'

Anglo American is required, by 5pm on 5 February 2020, to either announce a firm intention to make an offer for the company or announce that it does not intend to make an offer for Sirius Minerals.

At 8:19am: [LON:SXX] Sirius Minerals PLC share price was +1.43p at 5.53p

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