Business Services Industry
Noble seeks to block offer for Gloucester.
Australasian Business Intelligence, June, 2007
Byline: Michael Vaughan
Jun 27, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Noble Group has paid $A21.5 million to boost its interest in Australian-listed Gloucester Coal by approximately six per cent. The move, which makes Noble the largest investor in the coal miner, is considered a strategy aimed at blocking Xstrata's $A391 million takeover bid for Gloucester. Noble has signalled that it is unwilling to support the Xstrata bid. The target's shareholders will be asked to vote on Xstrata's scheme of arrangement in the week commencing 2 July 2007.
Publication Date: 28 June 2007
GLOUCESTER COAL LIMITED - ASX GCL
NOBLE GROUP LIMITED
XSTRATA HOLDINGS PTY LTD
XSTRATA AG
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