PolyMet receives final order for arrangement with Glencore

PolyMet Mining (PLM) announced that the Supreme Court of British Columbia has granted the final order in connection with the previously announced statutory plan of arrangement under Part 9, Division 5 of the Business Corporations Act involving the company and Glencore AG (GLNCY). Pursuant to the Arrangement, Glencore will acquire the approximately 17.82% of the issued and outstanding common shares of PolyMet that Glencore did not already own for $2.11 in cash, per Minority Share. As announced in its news release dated November 1, 2023, the Arrangement was approved by the holders of common shares of the company at a special meeting of the Shareholders held on November 1, 2023. The Arrangement is expected to be completed on or about November 7, 2023, subject to the delivery by the parties of customary closing deliverables.