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October 1, 2008 · 3:33AM

Xstrata Drops Lonmin Bid On Funding Fears

Swiss copper giant Xstrata has dropped its $8.9 billion hostile bid for Lonmin, citing concerns that it would not be able to secure financing for the deal. Shares of the platinum miner, which had been holding out for a higher deal, plunged in London trading after the pull-out. (FT)

Categories: Business & Finance Today · Mining, Ag., Commodities

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