Aquarius Platinum has denied that it has been locked in talks over a possible takeover bid for Lonmin, the world's third biggest platinum producer.

Lonmin rejected a $10 billion offer from hostile suitor Xstrata last week which valued individual shares at £33.

Subsequently, rumours escalated about the possibility of a three-way rival merger with Aquarius Platinum and fellow South African company the Mvelaphanda Group.

However, Nick Bias, spokesman for the former, claimed yesterday (September 10th): "Contrary to the recent speculation, we're not looking to make an offer for Lonmin."

Mr Bias' comments follow a similar declaration on Monday from Mvelaphanda's Executive Commercial Manager James Wellsted, who said: "At the moment we haven't had discussions with Aquarius about anything like that."

Despite the denials, Lonmin has chosen to remain quiet on the issue, further fuelling speculation that the merger is still in the pipeline.

Any such deal would be designed to allow Aquarius Platinum and Mvelaphanda to challenge Anglo Platinum as the world's top producer of platinum.



Source:

UPDATE 1-Aquarius denies working on rival Lonmin bid (10/09/08)
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=750000&source=NEWS

Lonmin holds talks to find Xstrata alternative (08/09/08)
http://www.platinum.matthey.com/media_room/lonmin_holds_talks_to_find_xstrata_alternative_18768561.html