Companies

Aug 6: Xstrata bid for Lonmin could go higher

Xstrata, the mining company, has launched a surprise bid for Lonmin, a platinum specialist. Shares in Lonmin have risen 51% in morning trade to £35 - above the planned offer of £33 making an improved offer a possibility. Rebecca Bream, mining correspondent, discusses the merits of the bid and explains what Xstrata says it can offer Lonmin.