(Bloomberg) --
Anglo American Plc's proposed 405 million pound ($519.3 million) takeover of U.K. potash miner Sirius Minerals Plc is facing opposition from retail investors, The Times of London reported.
Hargreaves Lansdown, the investment platform through which 16.5% of Sirius stock is held, told the newspaper that about 25% of its clients who own shares in the miner had voted on the deal with the majority so far going against it.
- The Times reported that shareholders are angry at the losses they've suffered on their investments; the company was valued over $2.3 billion in 2018
- Sirius recommended the deal to shareholders after it failed to raise the money it needed to continue operations at its north-of-England site and faced bankruptcy
- READ: Anglo Agrees to Buy Sirius in Lifeline for U.K. Potash Mine
To contact the reporter on this story: Jeremy Hodges in London at jhodges17@bloomberg.net
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Robert Brand, Tony Halpin
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