Wednesday, July 4, 2007

Gloucester Coal Shareholders Vote Against $355 Million Xstrata Takeover

(Bloomberg) -- Gloucester Coal Ltd., which is under a
A$391 million ($335 million) takeover bid from Xstrata Plc, said
its shareholders voted against the proposal today.

Gloucester Coal would carry on with a business plan it had
in place prior to the bid, the Sydney-based company said in a
statement to the Australian Stock Exchange.


Read more at Bloomberg Energy News

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