Swiss raider on hold.(Austral Coal)

Australasian Business Intelligence, April, 2005 by Owen, Richard

Apr 06, 2005 (Herald Sun - ABIX via COMTEX)

Glencore International has built a 12.9 per cent stake in Australian-listed Austral Coal. The Swiss-based group has indicated that a takeover bid for Austral is one option under consideration. Austral is currently subject to a $A350m takeover bid from Centennial Coal, which has now gained 46.6 per cent of Austral's shares. Should the Centennial bid succeed, Glencore would hold a 3.5 per cent stake in the merged group, and analysts suggest that it is more likely to retain this interest rather than make its own play for Austral.

Publication Date: 7 April 2005

AUSTRAL COAL LIMITED - ASX AUO:

CENTENNIAL COAL COMPANY LIMITED -

ASX CEY:

GLENCORE INTERNATIONAL AG:

XSTRATA AG:...

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