Takeover Target?--Lonmin seen tempting Chinese bid on discount

摘要

For an acquirer willing to bet platinum prices will rebound, Lonmin has never been valued so cheaply, compared with its biggest mining competitor.The third-largest platinum producer has plunged to the lowest share price since 2008 as Lonmin posted an unexpected loss and grappled with higher wage and power costs and an industrywide glut of platinum, which is used in jewellery and cars.The stock slump accelerated last month as 44 protesters and police officers were killed at Lonmin's Marikana operation, the worst incident of mine violence in South Africa since apartheid ended.