https://www.engineeringnews.co.za

Yancoal rejects potential offer

7th June 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – An independent board committee appointed by ASX-listed Yancoal Australia to evaluate a potential takeover bid from shareholder Yankuang Energy Group Company has concluded that the offer would not be in the best interest of minority shareholders.

Yankuang Energy, which holds a 37.7% stake in Yancoal, had flagged a $1.8-billion offer, offering Yancoal shareholders convertible bonds worth $3.60 each for the remaining 498.2-million shares not yet held by the company.

The transaction implied a premium of 2.38% over Yancoal’s average closing price for the 60 days immediately prior to Yankuang Energy flagging its potential offer, and a premium of 21.86% over the average closing price for the 90 days immediately prior.

Yancoal on Tuesday said that the company had informed Yankuang Energy that it could not support the potential transaction in its current form, adding that to date, the company had not received any formal offer or proposal from Yankuang Energy, and that there was no certainty that an offer would materialise.

 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.834s - 140pq - 2rq
Subscribe Now