Sibanye's $286 million Lonmin takeover gets all clear from shareholders [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's $286 million Lonmin takeover gets all clear from shareholders - Reuters 2 Min Read JOHANNESBURG/LONDON (Reuters) - Sibanye-Stillwater and Lonmin cleared the final hurdle to forming the world’s second-largest platinum producer as their shareholders approved the South African firm’s 226 million pound ($286 million)takeover of its London-listed rival. Lonmin shares rose 7.7% by 1234 GMT, while Sibanye’s were up 8.4% on Tuesday after the majority of shareholders in both firms backed the revised all-share offer, which valued Lonmin at 60 million pounds ($76 million) less than originally proposed. Sibanye, which also has gold mines in South Africa, has been growing its platinum presence by buying Anglo American Platinum’s Rustenburg operations in 2015, Aquarius Platinum and then U.S. palladium producer Stillwater. It first proposed buying Lonmin in 2017, a deal touted as the only way to save the cash-strapped company’s 29,000 strong workforce in South Africa where job cuts are pol
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