Russian metals giant Norilsk Nickel has aised its offer for Canadian miner LionOre to C$27.50 ($25.30) a share, valuing the company at approximately C$6.8 billion ($6.26 billion), Norilsk said on Wednesday.
This is 10% higher than the bid of rival Xstrata, which had proposed to buy LionOre at C$25 ($23) a share, equal to C$6.2 billion ($5.7 billion) for the whole company.