Posts Tagged ‘Trading Halt’
Wednesday, March 31st, 2010
Trading in Macarthur Coal has been suspended at the request of the company, which has been approached by a third party regarding a possible takeover.
The halt will last until April 6, or until an announcement is made to the market.
Yesterday Macarthur, (the world’s largest producer of low volatile pulverized injection coal for steel making) confirmed its full year sales forecast, which was unaffected despite fears of the potential impact Cyclone Ului threatened on its Dalrymple Bay shipments.
Macarthur Coal
ASX Code: MCC
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Tags: ASX company news, Coal, MacArthur Coal, MCC, Steel Manufacturing, suspend trading, Trading Halt
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Tuesday, December 1st, 2009
Indophil Resources has agreed to the terms of a friendly takeover offer from Hong Kong’s Zijin Mining Group Company. The offer of $1.28 per share values the company at $545 million.
The Age is describing it as another of “China’s raid on the Australian resources sector,” and this time the target is Indophil’s minority ownership of the Tampakan Copper-Gold Project in the Philippines.
The same article also notes, rather ominously, that Tampakan is situated on an island known for having a rebel group opposed to the Tampakan project.
Xstrata is the majority shareholder of Indophil and majority partner in the Tampakan project, and has entered into a pre-bid acceptance agreement with Zijin.
Indophil has been in a trading halt since Friday.
Indophil Resources
ASX Code: IRN
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Tags: china australia mining, Indophil, Indophil takeover, Tampakan, Trading Halt, Xstrata, Zijin
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Monday, November 9th, 2009
AXA Asia Pacific Holdings has turned down an unsolicited takeover offer from insurer AMP, working in partnership with AXA SA.
The proposed conditional scheme allowed for AMP to acquire the 53% stake held by AXA APH’s French parent, AXA SA.
Shareholders would have been paid $1.3796 for each AXA APH share, and would also have received 0.6896 AMP shares, altogether amounting to $5.34 a share.
AXA APH has rejected on the grounds that it undervalues the business, and does not take into consideration the prospects of growth from the Asian operations.
The New Zealand stock exchange announced this morning that AMP Ltd has been placed in a trading halt, pending a material announcement.
AXA Asia Pacific
ASX Code: AXA
AMP
ASX Code: AMP
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Tags: AMP, AMP AXA takeover, AXA Asia Pacific, AXA takeover, Trading Halt
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Wednesday, October 28th, 2009
ING Industrial Fund has launched a $700 capital raising campaign, aimed at reducing debt and cutting gearing levels.
ING Real Estate, the largest shareholder, will not take up its entitlement, which is causing concern for some institutional investors.
The refinancing plan offers units at 48c, a 20% discount to Monday’s close price of 60c, spread between existing unitholders and an institutional placement.
IIF will remain in a trading halt until the placement is complete this afternoon.
ING Industrial
ASX Code: IIF
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Tags: capital raising, ING capital raising, ING Industrial Fund, ING Real Estate, Trading Halt
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Friday, October 9th, 2009
Junior iron ore explorer United Minerals has requested a trading halt, pending an announcement widely expected to be a takeover offer.
Among the candidates tipped to be making the offer, BHP Billiton is appearing as a frontrunner, according to The Australian. United Minerals’ proximity to BHP’s Pilbara operations, as well as rumours BHP had already explored a form of agreement are fuelling speculation.
Rio Tinto and Fortescue Metals are also being cited as potential buyers.
United Minerals
ASX Code: UMC
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Tags: BHP Billiton, Fortescue Metals, Rio Tinto, Trading Halt, UMC, United Minerals, United Minerals takeover
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Friday, September 25th, 2009
China has ditched plans for a $500 million investment in rare earths company Lynas, after the conditions imposed by the Foreign Investment Review Board were found to be objectionable.
China Nonferrous Metal Mining Co (CNMC) had planned to increase its stake to 51.6%, however the FIRB required the ownership to be less than 50%, and the number of directors on the board to be less than half.
As a result, CNMC is walking away from the deal, leaving Lynas in a trading halt and reassuring the market that other funding sources are being finalised.
The FIRB director yesterday advised Chinese investors to talk to them first, and not use the media to lobby their proposals.
Lynas Corporation, ASX Code: LYC
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Tags: china australia mining, FIRB, foreign investment, LYC, lynas, rare earth, Trading Halt
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Thursday, September 24th, 2009
Ten Network has gone into a trading halt, while CanWest MediaWorks Ireland attempts to sell down its 50.06% stake.
The 523.29 million shares in question are being marketed to institutional investors, and would be valued at around $1.43 billion based on Ten’s last traded price of $1.365 per share.
Ten will remain in a trading halt until Monday, or earlier if the the sell down is completed before then.
Ten Network Holdings. ASX Code: TEN
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Tags: ASX News, canwest, TEN, ten network, Trading Halt
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Thursday, September 10th, 2009
Gold and copper explorer Westgold has hinted it may be sitting on some exciting news.
The company requested a trading halt yesterday, following “receipt of additional significant drilling results” from its Rover project, south-west of Tennant Creek.
The Age this morning is speculating that Westgold might be on the verge of announcing discovery of a large, high-grade gold pod, and that among those keenly watching these developments would be Metals X, a 28% shareholder in Westgold.
Westgold
ASX Code: WGR
Metals X
ASX Code: MLX
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Tags: gold, metals x, mining, MLX, rover, Trading Halt, westgold, wgr
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Tuesday, September 1st, 2009
Gunns has requested an extension to its trading halt until tomorrow, or until the release of an announcement regarding a $145 million capital raising to finance the $100 million takeover of Elders Ltd’s ITC Timber division.
The acquisition forms part of the woodchipper’s new strategy of making the proposed Tamar Valley pulp mill 100% plantation based, in compliance with a stipulation from potential financier Sodra.
Gunns is also looking at assets from Great Southern Plantations and Timbercorp.
ASX Code: GNS
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Tags: elders, GNS, great southern plantations, Gunns, pulp mill, tamar valley, timbercorp, Trading Halt
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Friday, April 24th, 2009
Kirin Holdings has offered $6 billion to buy out the remaining 54% of brewer Lion Nathan, but Lion is holding out for a higher bid according to media reports.
Lion s major shareholders are thought to be aiming at a sale between $11.50 and $13 per share. Before it went into a trading halt on Wednesday, Lion was trading at $8.31.
- Kirin and rival Asahi are in a race to expand operations outside of Japan. Asahi recently moved to purchase Schweppes Australia, and Kirin has bought National Foods, Berri and Dairy Farmers.
- Under the proposed deal, the Lion management team would remain in place, and Lion would be responsible for all of Kirin s Australian operations.
- Lion plans to establish an independent committee to assess the value of the offer for retail investors.
- The ACCC is also likely to take an interest in the deal, after it enforced several concessions in Kirin s purchase of Dairy Farmers last year.
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Tags: ASX News, Business News, kirin takeover, Lion Nathan, lion takeover, shareholders, Trading Halt
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