Good morning: Anglo American has agreed a takeover deal with Sirius Minerals that values the North Yorkshire fertiliser mining project at £405 million. The proposed deal means that one of Britain’s biggest infrastructure projects will be rescued but it also crystalises significant losses for thousands of retail investors, who have seen the value of Sirius shares tumble over the past year. The all-cash deal values Sirius shares at 5.5p. They were trading at 4.1p before the talks with Anglo were revealed but were as high as 37p two years ago. Russell Scrimshaw, chairman of Sirius, has a clear message for shareholders in the company this morning: accept the offer from Anglo or risk the company going into administration and losing everything.

Source: The Times January 20, 2020 09:00 UTC