Sherritt signs deal that would give majority ownership to a former Trump official

Sherritt International is nearing a sale to a former Trump administration official at a discount to its already heavily depressed share price. The deal follows U.S. sanctions on Cuba, which forced the miner to suspend its operations there and severely damaged the company’s valuation and operating outlook. The headline is negative for Sherritt shareholders, though the market impact is likely limited to the individual stock.

Analysis

Sherritt International is nearing a sale to a former Trump administration official at a discount to its already heavily depressed share price. The deal follows U.S. sanctions on Cuba, which forced the miner to suspend its operations there and severely damaged the company’s valuation and operating outlook. The headline is negative for Sherritt shareholders, though the market impact is likely limited to the individual stock.