Yanzhou Coal to buy Aussie Gloucester for $2bn, report says

Dec 19, 2011 | 10:20 PM |

Yanzhou Coal Mining, China’s fourth-largest coal producer, plans to take over Gloucester Coal for at least $2 billion in a cash-and-stock scheme. Yancoal Australia, Yanzhou Coal’s subsidiary in Brisbane, will bid for Gloucester Coal at a market value of A$1.4 billion ($1.4 billion), according to Bloomberg, who quoted an anonymous source with knowledge of....

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