Business Services Industry
Xstrata bid for Gloucester rejected.
Australasian Business Intelligence, July, 2007
Byline: Andrew Trounson and Kevin Andrusiak
Jul 05, 2007 (The Australian - ABIX via COMTEX) -- On 5 July 2007, shareholders of Australian-listed Gloucester Coal rejected a $A391 million takeover offer from Xstrata. This was expected as rival commodity trading companies, Noble Group and American Metals & Coal International (AMCI), had each acquired 10 per cent blocking stakes. However, neither company has revealed their intentions. Speculation about an alternative bid lifted Gloucester's share price to a record high of $A5.13 before closing up by $A0.05 at $A5.09.
Publication Date: 6 July 2007
GLOUCESTER COAL LIMITED - ASX GCL
XSTRATA COAL AUSTRALIA PTY LTD
XSTRATA AG
NOBLE GROUP LIMITED
AMERICAN METALS AND COAL...
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