Sibanye shareholders approve revised $286 million Lonmin takeover [Reuters]
LONMIN PLC AMERICAN DEPOSITARY RECEIPTS - SPONSORE (LNMIY)
NASDAQ:AMEX Investor Relations:
lonmin.com/reports/2017/online_annual_report_2017/governance/corporate_governance_report_04.html
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Source: Reuters
Sibanye shareholders approve revised $286 million Lonmin takeover - Reuters 1 Min Read JOHANNESBURG (Reuters) - Sibanye-Stillwater shareholders approved a takeover of Lonmin to create the world’s second-largest platinum producer, boosting shares in both firms on Tuesday. Sibanye said that 87 percent of its shareholders backed the all-share offer, which it revised last month to value the struggling miner at 226 million pounds ($286 million), 60 million pounds less than originally proposed. Shareholders in Lonmin are also due to vote on the Sibanye takeover at a meeting in London on Tuesday. Lonmin was hit hard by the drop in platinum prices and has had to cut spending in order to retain a positive balance sheet, a condition of Sibanye’s proposed offer. Shares in London-listed Lonmin rose 6.77 percent by 0925 GMT, while Sibanye’s were up 7 percent. Reporting by Tanisha Heiberg and Barbara Lewis; Editing by Mark Potter and Alexander Smith All quotes delayed a minimum of 15 minutes. See
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