Stillwater Mining Company announces its merger with Sibanye Gold Limited is complete. Sibanye announced in 2016 they would acquire Stillwater for $18.00 per share in cash totaling $2.8 billion.
Stillwater President and CEO Mike McMullen says about the transaction in a press release Thursday, "I am grateful for the hard work of our employees and management team in building this great company. Stillwater's leadership team is well positioned for success as part of Sibanye."
Last week Sibanye announced it would expand out of gold and into platinum mining. Stillwater is the only producer of platinum in the United States.
This deal will effectively end Stillwater's two-decades long run as a publicly traded company.
CEO McMullen has said they have made no decision regarding adding or cutting the mine's workforce.