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MOSCOW (AP) - Norilsk Nickel, the world's biggest producer of nickel and palladium, announced Thursday that it had launched a 5.3 billion Canadian dollar ($4.8 billion) bid for nickel and gold producer LionOre.
At 21.50 Canadian dollars ($19.42) per share, Norilsk Nickel said in a statement that the offer represents a 16.2 percent premium to a rival bid by Xstrata PLC on March 26.
The bid for LionOre is an all-cash offer for all of the Canadian company's shares, Norilsk said.
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