Severstal Resources Announces results of Take Over bid

Through its mining division Severstal Resources, OAO Severstal announced that the offer by 7027940 Canada Limited, an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation)(TSX: PBS) expired at 11:59 p.m. on October 24, 2008. In order to resolve outstanding matters between PBS Coals Limited and the Offeror, the principal... 

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Sprott Resource Corp. agrees to a price reduction to complete PBS sale

Sprott Resource Corp. announced that SRC, along with other principal shareholders of PBS Coals Limited, have reached an agreement with PBS, PBS Coals Corporation, Mining Holding Company LLC, a holding company in OAO Severstal’s Resource Division and 7027940 Canada Limited , a subsidiary of Severstal Resources, pursuant to which the Offeror has agreed to take up and pay for all common shares... 

PBS Coals Limited Announces Receipt of CFIUS Approval

PBS Coals Limited announces that PBS Coals Corporation and a subsidiary of Severstal Resources have received written confirmation from the Committee on Foreign Investment in the United States (CFIUS) under the Exon-Florio Amendment to the Defense Production Act of 1950, as amended, that no second-stage investigation will be initiated in respect of the joint application submitted by Severstal and PBS... 

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Severstal Resources Reaches Agreement to Acquire PBS Coals

Through its mining division Severstal Resources, OAO Severstal announced that it intends to acquire the business of PBS Coals Corporation by way of an acquisition of Penfold Capital Acquisition Corporation following a business combination of PBS and Penfold for an all cash purchase price of C$8.30 per share, implying an enterprise value of US$1.3 billion. PBS is engaged in the mining, processing and... 

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