PRESS DIGEST - British Business Press - Sept 3
The Times
LONMIN SAYS 'NO' BUT WHEN THE PRICE IS RIGHT TAKEOVER WILL BE POSSIBLE
The platinum miner Lonmin (LMI.L) said on Tuesday that it is open to talks with Xstrata (XTA.L) about a possible takeover, but on condition that its five billion pound offer price was raised. Xstrata launched a hostile bid last month offering 33 pound-a-share, a price that Lonmin's chairman Sir John Craven believed was opportunistic and undervalued the company. He said: "I cannot say whether Lonmin will remain an independent company or not. We will do everything in our power to ensure that we either stay independent or, if shareholders do accept an offer, that it properly rewards them for the value of the assets we hold."
SKYEPHARMA SLUMPS AFTER DISCOUNT SHARE SALE PLAN
Skyepharma, the specialist drug delivery company, said on Tuesday that it would sell new shares at a massive discount to the present price as part of a plan to renegotiate debt. Shares in the company suffered their worst slump for sixteen years on the news, shedding 33.6 percent of their value to close 1.93 pence down at 3.82 pence.
SCOTT WILSON'S CONFIDENT VIEW
