Aquarius Platinum and Impala Platinum are reported to be in talks about a joint takeover bid for Lonmin.

Xstrata has already eyed the mining giant only to see its interest fiercely rebuffed but Aquarius Platinum and Impala Platinum are now believed to be in talks before making a bid.

Reports from the Sunday Telegraph had suggested that two expressions of interest had been made to Lonmin, including the one from Impala Platinum.

However, it was not known who the other interested party was.

Xsrtata has offered £33 per share for Lonmin and it is thought that even a joint bid from Aquarius Platinum and Impala Platinum would not be able to better it.

As a result, the two are believed to have held back on making an official bid for Lonmin which has already said that Xstrata's offer did not take into account its future value.

At the time, Lonmin said that Xstrata's bid was an "opportunistic attempt" to acquire its operations which it "undervalues" in terms of both assets and business.

Source:

Platinum pair Aquarius and Impala mull Lonmin joint bid, 26/08/08

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/26/cnlon126.xml

Lonmin provides shareholders with further information on its rejection of Xstrata’s Pre-conditional Offer, 13/08/08

http://www.lonmin.com/assets/rejection%20announcement%202%20130808.pdf