Lonmin, the South African platinum miner, could receive a renewed bid from Xstrata as early as next month, a possibility sent Lonmin’s shares up 14% last week amid speculation that acquisition-driven Xstrata might turn to smaller targets as its proposed merger with Anglo American loses momentum.  A renewed bid for Lonmin, in which Xstrata already holds 25%, would indicate that an Xstrata-Anglo deal was either dead or turning into a longer game. But analysts on Friday said the Lonmin bid speculation appeared “overplayed”.

This entry was posted by Gwen Robinson on Monday, September 7th, 2009 at 4:55 and is filed under Capital markets, Commodities, M&A. Tagged with Lonmin, xstrata. Edit this entry.