Business Services Industry
Noble tipped as spoiler in Xstrata coal play.
Australasian Business Intelligence, June, 2007
Byline: Jamie Freed
Jun 26, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- Noble Group is suspected of having purchased a blocking stake in Australian-listed Gloucester Coal. The $A391 million bid for Gloucester by Xstrata seems likely to fail. Some 12 of Gloucester shares changed hands on 26 June 2007, and Noble already held 4.5. Opposition to Xstrata's bid has grown since early June, and one analyst valued the shares at $A5.50 when the offer from Xstrata was $A4.75 per share. It is also thought that Xstrata will not be upset at missing out as the acquisition was never seen as essential.
Publication Date: 27 June 2007
GLOUCESTER COAL LIMITED - ASX GCL
XSTRATA AG
NOBLE GROUP LIMITED
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