As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday, 9 April 2010

New Hope Bids for Macarthur, Battling Peabody, Noble

Why? Why? Why?

Why are people so scare of Noble becoming  Macarthur’s largest shareholder?


----------------------------------------------------------------------------------------------
By Rebecca Keenan


April 9 (Bloomberg) -- New Hope Corp. Ltd., an Australian coal producer, offered A$3.71 billion ($3.4 billion) in shares to buy Macarthur Coal Ltd., higher than a rival bid from Peabody Energy Corp.

New Hope offered 2.7 of its shares for every 1 of Macarthur’s, valuing Macarthur at A$14.58 per share, the Ipswich, Queensland-based company said today in a statement. Peabody raised its initial offer to A$14 a share this week. Macarthur closed yesterday at A$14.36.

New Hope joins Noble Group Ltd. in battling Peabody for Macarthur after shipments of coal to China last year tripled and prices doubled. China’s imports of coal used to make steel are forecast to rise 5.6 percent to 38 million metric tons this year, according to a Macquarie Group Ltd. forecast.

Both the New Hope and Peabody bids are conditional on Macarthur dropping a planned all-share takeover of Noble’s Gloucester Coal Ltd. that would see Noble become Macarthur’s largest shareholder.

Combining New Hope and Macarthur would create a coal company with a market capitalization of more than A$8 billion, New Hope said. It is being advised by Pitt Capital Partners.

No comments:

Post a Comment

Related Posts with Thumbnails