Lonmin PLC (LONJ.J)
16 Mar 2018
* Sibanye says results don't affect its takeover plan (Adds detail)
LONDON Plans to cut around 13,000 jobs are likely to be the biggest obstacle to miner Sibanye-Stillwater winning South African regulatory approval for its proposed takeover of troubled rival Lonmin , the CEO of Lonmin told Reuters.
Dec 15 Britain's FTSE 100 index is seen opening down 13 points on Friday, according to financial bookmakers, with futures down 0.20 percent ahead of the cash market open.
Dec 15 Britain's FTSE 100 index is seen opening down 13 points on Friday, according to financial bookmakers. * OLD MUTUAL: The chief of Old Mutual Global Investors (OMGI) Richard Buxton is nearing a 550 million pound buyout of the company, according to a person familiar with the matter. * BP: BP plans to invest $200 million in Europe's largest solar power developer Lightsource, with a 43 percent stake buy, the Financial Times reported on Friday. http://on.ft.com/2Bq
* Dollar bounces back from one-week low * U.S. retail sales data stronger than expected * Platinum shrugs off Lonmin takeover (New throughout, updates prices, market activity and comments, adds second byline and NEW YORK dateline) By Renita D. Young and Eric Onstad NEW YORK/LONDON, Dec 14 Gold dipped slightly on Thursday, easing off a one-week high as the dollar rebounded following strong U.S. retail sales data, while palladium rose to its highest since February
LONDON/JOHANNESBURG South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds ($382 million) to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal.
LONDON Lonmin's main labor union in South Africa said on Thursday it would consider mass action to oppose the takeover of the struggling platinum miner by Sibanye-Stillwater , which Sibanye has already said will lead to 12,600 job cuts.
* Lonmin underperforms peers: http://bit.ly/2zbL36M (Updates with union comment, closing Lonmin shares)
LONDON (Reuters Breakingviews) - A South African giant has come to Lonmin’s rescue. Gold miner Sibanye-Stillwater has offered to buy the troubled platinum specialist for shares worth 246 mln pounds. The offer is far from generous when compared with available cost savings. But Lonmin’s financial woes and inability to raise equity make a share of a larger group look attractive.
LONDON Weakness in bank stocks dragged European shares lower on Thursday as the financial sector caught the cold from U.S. and Asian trading after a less hawkish than expected tone from the U.S. Federal Reserve.