Xstrata Bids for Australian Miner
December 6, 2007
Business News IN BRIEF
–Xstrata, the Swiss miner recently rumoured to be contemplating a bid for Anglo-American, has made a A$960m (410m) offer for Resource Pacific Holdings, the Australian coal producer. The bid, which comes a month after the company offered A$3bn for Jubilee, a nickel miner, trumps a rival proposal by New Hope Corporation. Xstrata said it had won the support of Marubeni Corporation, Resource Pacific’s largest shareholder, which has helped it secure a 15.56 per cent interest in the target company.
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