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Lonmin Tells Shareholders to Support $817 Million Cash Call
Nov. 13, 2012 08:42AM PST
Battery Metals InvestingReuters reported that Lonmin, in their latest move to resist a takeover from Xstrata, is encouraging its shareholders to support an $817 million cash call.
Reuters reported that Lonmin, in their latest move to resist a takeover from Xstrata, is encouraging its shareholders to support an $817 million cash call.
As quoted in the market report:
Under a first proposal made last month, Xstrata would have sold its South African platinum group metals, chrome and vanadium businesses to Lonmin for shares, conditional on a $1 billion rights issue, which they would underwrite.