Britain’s Competition and Markets Authority (CMA) unconditionally cleared South Africa-based Sibanye-Stillwater’s proposed takeover of Lonmin on Thursday, June 28, telling Reuters the mining merger would not require a second phase investigation.
The South African precious metals miner made an all-share offer for London-listed Lonmin in December in a £285 million (US$386 million) deal aimed at creating the world’s No.2 platinum producer.
“We look forward to the combination of the businesses creating a leading mine-to-market player with enhanced scale and resources, able to compete more effectively,” the CEOs of Sibanye and Lonmin said in a joint statement.
The deal, which is on track to close in the second half of the year, remains subject to approval from South African competition authorities, the shareholders of both companies and courts in England and Wales, Sibanye announced in a statement.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI