Lonmin's mining union tries to block Sibanye dealStaff Writer | December 20, 2018
A South African union has filed an appeal to overturn a mining deal in which Sibanye-Stillwater intends to acquire rival Lonmin, Sibanye said.
The union's action comes almost a month after the Competition Tribunal gave the deal the thumbs up on condition that Sibanye does not cut jobs for a period of six months.
The all-share deal, valued at 285 million pounds ($361 million), is likely to lead to more than 10,000 layoffs, both companies have said. Sibanye-Stillwater and Lonmin intend to request an urgent hearing from the Competition Appeals Court in relation to AMCU’s appeal, Sibanye said on Wednesday. ■