Takeover un­likely

Finweek English Edition - - Market Place -

I had writ­ten pre­vi­ously that Sibanye may use its cash pile af­ter the Still­wa­ter deal to make an of­fer for Lon­min. But it has an­nounced that it is us­ing much of the cash to as­sist Still­wa­ter for costs in­curred by the ac­qui­si­tion. The amount of $750m is be­ing used and this is pretty much all its free cash, so my idea of a po­ten­tial takeover of Lon­min by Sibanye seems un­likely now.

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