Lonmin investors have backed the platinum producer’s takeover by Sibanye-Stillwater, bringing to an end a company that was once part of a business empire synonymous with British capitalism in Africa. Sibanye’s all-share takeover was backed by 98.87% of votes cast at a meeting in London, based on provisional results, passing the required threshold of 75%. The vote is a triumph for Sibanye CEO Neal Froneman, a prolific deal-maker who faced investor concerns that his offer undervalues Lonmin’s assets. Sibanye investors approved the deal earlier in the day.
