Merrill questions WMC demerger plan.

Australasian Business Intelligence, September, 2002

Sep 17, 2002 (The Australian Financial Review - ABIX via COMTEX)

Merrill Lynch feels Australian mining group, WMC, has outsmarted itself with its demerger proposal. In a major report on the planned restructuring, Merrill concludes that the demerger plays into the hands of predators. It was to avoid a takeover by US-based Alcoa in 2001 that the split-off of WMC's metals and other interests was conceived. The Merrill report doubts the tactic as a means of returning improved value to shareholders. Meanwhile, WMC representative, Tania Price, has said the company remains confident that an extraordinary meeting of shareholders will be held in late November 2002 to vote on the demerger proposition.

Publication Date: 18 September 2002

WMC LIMITED -...

            
        
    
    	    
                
                
	

		

					 
            Read the rest of this article with a Free Trial at HighBeam Research.
        				
 

    		            
	
                Premium Content Partnership | 
                	HighBeam Research provides an in-depth online archive library of reference works.