Stillwater's Stock Soars In Active Trade After Buyout Deal With Sibanye Gold

Shares of Stillwater Mining Co. soared 19% in active premarket trade Friday, after the platinum miner agreed to be acquired by Sibanye Gold Ltd. in a deal valued at about $2.2 billion. Under terms of the deal, Sibanye will pay $18 in cash for each Stillwater share outstanding, which represents a 23% premium to Thursday's closing price. The deal is expected to close in the second quarter of 2017. Trading volume in Stillwater's stock spiked to 4.1 million shares ahead of the open, already more than double the full-day average, and enough to make it the most actively traded in the premarket. Sibanye shares plunged 16% in premarket trade. Year to date, Stillwater shares have soared 71%, while Sibanye's stock has climbed 37%, the VanEck Vectors Gold Miners ETF has surged 56% and the S&P 500 has gained 9.9%.

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