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Norilsk Nickel's superior bid recognized by LionOre Mining International Ltd.

Publication: PR Newswire
Publication Date: 08-MAY-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
MOSCOW, Russian Federation and TORONTO, May 8 /PRNewswire/ -- OJSC MMC Norilsk Nickel ("Norilsk Nickel" or the "Company") today reacted favourably to LionOre Mining International Ltd.'s ("LionOre") (Toronto Stock Exchange and Australian Securities Exchange symbol: "LIM"; London Stock Exchange symbol: "LOR"; Botswana Stock Exchange symbol: "LIONORE") determination that Norilsk Nickel's all-cash offer to acquire the outstanding common shares of LionOre constitutes a "superior proposal".

Norilsk Nickel's General Director, Denis Morozov, said: "We are very pleased that our all-cash offer of Cdn$21.50 per common share has been recognized by LionOre's Board of Directors as a superior proposal. Through this offer, we are able to provide LionOre shareholders an attractive opportunity to realize substantial gains."

On May 3, 2007, Norilsk Nickel announced its intention to make an all-cash offer to acquire all of the outstanding common shares of LionOre for aggregate cash consideration of...

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