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Centennial in a hurry now it has majority stake.(Centennial Coal Company Ltd.)(Austral Coal Ltd.)(Brief Article)
Australasian Business Intelligence, April, 2005 by Wisenthal, Stephen
Apr 07, 2005 (The Australian Financial Review - ABIX via COMTEX)
In Australia on 7 April 2005, Centennial Coal took control of takeover target Austral Coal. At the deadline for acceptances, 66.7% of Austral's shareholder had sold into the bid, to take advantage of a Centennial interim dividend of $A0.06 a share. Investors applauded the change by adding $A0.24 to Centennial's share price, which closed on the day at $A5.01, effectively valuing Austral's stock at $A1.35 a share. The predator's chief financial officer, Robert Dougall, says the company sees cost reductions at Austral's Tahmoor coal mine in New South Wales as a priority.
Publication Date: 8 April 2005
CENTENNIAL COAL COMPANY LIMITED -
ASX CEY:
AUSTRAL COAL LIMITED...
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