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Bloomberg reported Xstrata Plc (LSE:XTA) says it will consider a revised offer for Lonmin Plc (LSE:LMI) after the platinum-miner rejected its initial offer.
Bloomberg reported Xstrata Plc (LSE:XTA) says it will consider a revised offer for Lonmin Plc (LSE:LMI) after the platinum-miner rejected its initial offer.
As quoted in the market news:
Xstrata, which owns 25 percent of Lonmin, is sounding out other shareholders’ views on the performance of management and its planned $817 million stock sale to investors, the people said, asking not to be identified as the talks are private. After the discussions, Xstrata may pursue options including a new proposal for Lonmin, or participating in the share sale on the condition that Lonmin agrees to replace senior management, the people said.