Agoracom: Small Cap Investment - McFaulds Lake Area - Xstrata drops bid for platinum miner Lonmin

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Xstrata drops bid for platinum miner Lonmin - Financial Crisis cause

posted on Oct 01, 2008 06:16AM

Xstrata drops bid for platinum miner Lonmin
Wednesday October 1, 7:04 am ET

Financial crisis undermines Xstrata's US$10 billion bid for UK rival Lonmin

ZUG, Switzerland (AP) -- Anglo-Swiss mining giant Xstrata PLC dropped its US$10 billion bid for British rival Lonmin PLC on Wednesday, saying the turmoil on the financial markets makes a takeover of the world's No. 3 platinum producer too risky.

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