A bargain that got sweeter
Lonmin's hand strengthens in Sibanye takeover
Lonmin no longer requires rescuing - what does that mean for its tie-up with Sibanye-Stillwater?
When Sibanye-Stillwater’s acquisition of Lonmin was first announced, it looked like an opportunistic assault on a company plagued by years of weak commodity prices and poor management, not to mention an unfortunate political legacy.
In December 2017 Lonmin shareholders, shell-shocked by events dating from even before the Marikana massacre of August 2012, must have been tempted to heave a huge sigh of relief when Sibanye-Stillwater arrived on their doorstep with a share-exchange offer.