05 September 2019 - 21:51Sibanye-Stillwater has defeated the last challenge against its R4.3bn takeover of Lonmin, creating the world’s largest platinum miner.
In an extraordinarily brief judgment, SA’s highest court dismissed the six communities’ application to appeal against a Competition Appeal Court ruling to allow the deal to go ahead after the Association of Mineworkers and Construction Union rejected the Competition Tribunal’s approval of the deal. “It is unfortunate that certain stakeholders seem unable to recognise the plight that faced the Lonmin operations and, instead of engaging with us, continue to pursue spurious and expensive legal alternatives,” he said, reiterating Sibanye’s commitment to working with communities around Lonmin and abiding by Lonmin’s social and labour plans.The communities wanted the deal set aside so they could be involved in the renegotiation of the all-share transaction.
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