Lonmin rejects takeover bid from Xstrata
British platinum producer Lonmin has rejected a takeover bid from Swiss mining giant Xstrata, arguing it is ``opportunistic and unwelcome'' and undervalues the group.
Anglo-Swiss mining giant Xstrata PLC dropped its US$10bn bid for British rival Lonmin PLC today, saying the turmoil on the financial markets makes a takeover of the world's No. 3 platinum producer too risky.