Shareholders support Sibanye-Stillwater's takover of Lonmin
Loading player...
Shareholders have given the thumbs up to Sibanye-Stillwaters takeover of Lonmin.
89% of Sibanye's investors gave the deal the nod of approval. While there was a 98.9% vote in favour of the transaction at Lonmin's shareholder meeting.
This is despite calls from some analysts for Lonmin's largest shareholder, the Public Investment Corporation (PIC), to reject Sibanye's offer because it undervalued the platinum company.
The deal now needs sanction from the UK courts before being concluded.
Business Day TV spoke to Sibanye-Stillwater CEO Neal Froneman for more detail.
89% of Sibanye's investors gave the deal the nod of approval. While there was a 98.9% vote in favour of the transaction at Lonmin's shareholder meeting.
This is despite calls from some analysts for Lonmin's largest shareholder, the Public Investment Corporation (PIC), to reject Sibanye's offer because it undervalued the platinum company.
The deal now needs sanction from the UK courts before being concluded.
Business Day TV spoke to Sibanye-Stillwater CEO Neal Froneman for more detail.
