Business Services Industry
French could foil Xstrata.(Areva plans to bid for WMC Resources Ltd.)(Brief Article)
Australasian Business Intelligence, February, 2005
Feb 27, 2005 (Herald Sun - ABIX via COMTEX)
Swiss-based Xstrata may face a rival in its bid to acquire Australian-listed WMC Resources. France-based Areva has indicated that it has appraised WMC's uranium assets, although it stresses that it has not decided whether it will bid for WMC. Areva is owned by the French Government, and has a focus on nuclear power. Gavin Wendt of Intersuisse notes that any talk of rival bids will remain just that until another bidder actually declares their intentions. Xstrata is offering $A7.20 a share, compared with WMC's closing price of $A7.56 on 25 February 2005.
Publication Date: 26 February 2005
WMC RESOURCES LIMITED - ASX WMR:
XSTRATA AG:
AREVA SA:
INTERSUISSE LIMITED
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