Business Services Industry
Xstrata Coal bid defeated.
Australasian Business Intelligence, July, 2007
Byline: Jamie Freed
Jul 05, 2007 (The Age - ABIX via COMTEX) -- Xstrata Coal has failed in its $391m bid for Australian-listed Gloucester Coal. Just 45 per cent of the takeover target's shareholders voted in favour of the scheme of arrangement, well short of the required 75 per cent. Gloucester directors had supported the Xstrata offer, and chairman Andy Hogendijk has indicated that the New South Wales-based thermal coal miner may be interested in renewing merger discussions with Resource Pacific. Gloucester shares finished $A0.05 higher at $A5.09 on 5 July 2007.
Publication Date: 6 July 2007
GLOUCESTER COAL LIMITED - ASX GCL
XSTRATA COAL AUSTRALIA PTY LTD
XSTRATA AG
RESOURCE PACIFIC HOLDINGS LIMITED - ASX RSP
All...
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