Northam to call for further proposals after receiving unsolicited buyout bid

JSE-listed platinum group metals (PGMs) miner Northam Platinum says it will initiate a strategic, competitive process to proactively solicit proposals from interested parties for one or more potential transactions, with a view to maximising shareholder value. This comes after it received an unsolicited, exploratory, nonbinding approach from a major producer in the South African PGM industry regarding a potential transaction with Northam involving an asset-level or a corporate transaction.

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