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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: gemsearcher who wrote (6015)	6/8/2000 10:09:00 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 7235

06/08 6:40A (DJ) +DJ Platexco Board Supports Impala Platinum Takeover Bid Platexco/Impala Bid -2: Hldrs With 64% Agree To Offer TORONTO (Dow Jones)--Platexco Inc.'s (T.PTX) board has unanimously agreed to support Impala Platinum Holdings Ltd.'s (O.IM) C$9.50-a-share takeover offer for the company, and is recommending that shareholders vote in favor of the offer. In a press release, Platexco said its board and a special committee each received fairness opinions concerning the transaction, which concluded that the offer is in the best interests of Platexco shareholders. Platexco said shareholders will vote at a meeting expected to be held in late July. The company said Impala has entered into agreements with shareholders of Platexco representing about 64% of the company's outstanding shares, in which those shareholders have agreed to vote in favor of the offer. Platexco said it has agreed not to solicit third party interest regarding an acquisition of Platexco or its assets and has agreed to a C$7.6 million break-up fee, payable should it enter into a competing agreement within a specified time period. The company said UBS Warburg is acting as financial adviser to Impala, while Griffiths McBurney & Partners and Robert Flemings South Africa Ltd. are acting as financial advisers to Platexco, and Loewen, Ondaatje, McCutcheon Ltd. is acting as financial adviser to Platexco's special committee. In Toronto trading Wednesday, Platexco's shares closed at 7.75. Platexco and Impala are mining companies. Company Web Sites: platexco.com and implats.co.za -Judy McKinnon, Dow Jones Newswires; PHIL