Lonmin Rebuffs £5bn Xstrata Proposal

Anglo-African platinum miner Lonmin has strictly denied a £5bn ($10bn) invasion proposal from the biggest arch rival Xstrata. The £33-per-share cash proposal is at a 42% premium to Lonmin’s share price at the end of venture on 5 August. The news obtained Lonmin shares up 47% to £34.26 in London; however Xstrata’s shares declined in Read more