SYDNEY : Canberra on Thursday approved a multibillion dollar tie-up between Gloucester Coal and China's Yancoal, clearing the way for a deal that will create Australia's largest listed coal firm.
Treasurer Wayne Swan said the country's foreign investments watchdog had green-lighted the deal under strict conditions that the new company remain headquartered in Australia and list on the stock exchange by the end of 2012.
The Stock Market Partied Too Soon. The S&P 500 Is Exhausted., Go to article
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