By Adriano Marchese

Anglo American PLC (AAL.LN) said Monday that it has agreed to purchase Sirius Minerals PLC (SXX.LN) for 5.5 pence in cash per share.

Anglo American said that the acquisition by its wholly owned subsidiary, Anglo American Projects UK Ltd., values the entire issued and to be issued share capital of Sirius at 404.9 million pounds ($526.5 million).

The cash offer that Sirius shareholders will receive compares with the previous day's closing price of 5.4 pence.

The company said that Sirius Minerals' North Yorkshire polyhalite project has the potential to become a world-class, low-cost and long-life asset.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 20, 2020 02:32 ET (07:32 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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