COAL
Coal miner Stanmore Coal has received a 95c a share takeover offer from Golden Investments, a company which is 51% owned by Indonesian coal producer Golden Energy and Resources and 49% held by Ascend Global Investment Fund.
The unsolicited offmarket bid valued Stanmore at around A$240-million and offered a 14.5% premium to Stanmore’s five-day volume weighted average share price on the ASX.
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