Norilsk Nickel Extends Offer for LionOre Shares to July 23

OAO GMK Norilsk Nickel, the nickel producer that acquired almost 90 percent of Canada's LionOre Mining International Ltd. (LIM), extended its buyout offer to July 23.

Norilsk, Russia's largest miner, extended its bid for the remaining stock to allow bondholders to convert their holdings into shares, the Moscow-based company said in an e-mailed statement today.

Norilsk has offered C$6.8 billion ($6.4 billion) for all of LionOre's stock, equivalent to C$27.50 a share. The buyout offer was previously due to end yesterday.

To contact the reporter on this story: Torrey Clark in Moscow at tclark8@bloomberg.net

To contact the editor responsible for this story: Bradley Cook in Moscow at bcook7@bloomberg.net

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