Sibanye, which will hold a rights issue of between $750m and $1bn to fund the deal, expects to close the transaction in the second quarter of this year, giving it an important offshore business, diversifying its geographical and political risk away from SA and Zimbabwe.
Sibanye said on Thursday it had received "early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act".
The act stipulates that companies must submit detailed documents to the US Federal Trade Commission and the department of justice, which will then decide whether the merger or acquisition could negatively affect US commerce.
"The effect of the early termination is that the antitrust condition required for the transaction has now been satisfied," Sibanye said of the deal it announced last December and which it expects to close before the end of June.
"Satisfying the antitrust condition in a timely manner is an important first step towards concluding the acquisition of Stillwater," said Sibanye CEO Neal Froneman.
"We have made very positive progress since the announcement of the transaction and continue to work towards satisfying the outstanding conditions as soon as possible."
Sibanye will fund the $2,2bn purchase price with a loan organised by HSBC and Citi through a $2,7bn debt and equity package, with the need to raise between $750m and $1bn in a rights issue.
Stillwater and Sibanye shareholders must approve the deal.
The market has not reacted positively to the transaction, with Sibanye's shares losing 15% of their value on the day the deal was announced. On Thursday, the shares were trading nearly 6% lower at R27,20.
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