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    Xstrata makes $10 billion bid for Lonmin - Political Yard
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    Xstrata makes $10 billion bid for Lonmin

    Posted on Aug 06, 2008 - 7:02 am - 34 views
    AP - Anglo-Swiss mining giant Xstrata PLC said Wednesday it was making a $10 billion cash offer for Lonmin PLC, the world's No. 3 platinum producer. The move sent Lonmin shares soaring 47.7 percent to 34.25 pounds ($66.92) on the London Stock Exchange, but the company immediately rejected the offer as not high enough.
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