Xstrata bids for Gloucester Coal


Australian coal miner Gloucester Coal on Tuesday recommended shareholders accept a A$391 million (163 million pound) offer from a subsidiary of Anglo-Swiss miner Xstrata (XTA.L).
Gloucester Coal said the Xstrata Coal offer of A$4.75 a share was at a 33 percent premium to the one-month volume weighted average price of Gloucester Coal shares, and 27 percent [...]