Sibanye-Lonmin: Froneman talks tough to ‘opportunists’
It’s easy to get a sense that Sibanye is going to take a very hard line with the Lonmin deal challengers
Sibanye-Stillwater (https://www.sharenet.co.za/v3/quickshare.php?scode=SGL)’s CEO Neal Froneman made a telling comment in response to a US court overturning a challenge to Sibanye’s $2.2bn (about R33bn) all-cash takeover of US platinum mining company Stillwater.
A group of dissenting shareholders in Stillwater launched a legal action against Sibanye about the fair value of the transaction. A court in Delaware last week ruled in favour of Sibanye after the matter was brought in May 2017.
Froneman’s comments after the ruling were interesting...