Business Services Industry
Gloucester to vote on Xstrata as other bidders wait in wings.
Australasian Business Intelligence, July, 2007
Byline: Andrew Trounson
Jul 04, 2007 (The Australian - ABIX via COMTEX) -- Gloucester Coal shareholders are meeting in Sydney on 5 July 2007, and are expected to reject Xstrata's takeover bid. It remains unclear in July 2007 whether the Hong Kong-based commodity and trading firm, Noble Group, will be prepared to offer more than $A391 million, which is the offer from Switzerland's Xstrata. Amid rumours AMCI might use Whitehaven Coal, a Queensland-based company, to gain the New South Wales-based Gloucester, there is also some speculation AMCI might put Felix Resources into the fray. AMCI achieved a 19.2 per cent stake in Felix in March 2006, defeating the interest Xstrata expressed for Felix.
Publication Date: 5 July 2007
GLOUCESTER COAL LIMITED...
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