WMC rejects new Xstrata takeover bid
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WMC is the subject of a new offer from the Swiss-based mining giant, Xstrata. After last month&#39;s bid through a scheme of arrangement was knocked back, Xstrata has launched an off-market takeover bid for all shares in WMC.
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SYDNEY: Xstrata Plc, the world&#39;s biggest exporter of coal for power plants, will make a hostile A$7.4bil (US$5.8bil) cash offer for WMC Resources Ltd.
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Anglo-Swiss mining group Xstrata has rejected an informal takeover approach from Brazilian peer Vale worth 76 billion dollars, a deal that would create the world's biggest mining company, the Financial Times reported Tuesday.
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WMC Resources Ltd., the world&#39;s fifth- largest nickel metal producer, said it rejected aA$7.4 billion ($5.5 billion) takeover bid from Xstrata Plc as too low.
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Xstrata yesterday took its $5.8 billion (Â£3.1 billion) cash bid for Australian miner WMC hostile, laying the ground for another major takeover clash between the old guard and the new of the mining world.
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The chief executive of WMC Resources has denied the company&#39;s share buyback and the sale of part of its business is designed to undermine a takeover offer from Swiss-based Xstrata.
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LONDON (CBS.MW) - Swiss mining conglomerate Xstrata said Thursday it has offered to buy the entire issued share capital of Australian company WMC Resources for A$7.
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Xstrata Plc, the world&#39;s biggest exporter of coal for power plants, offered to buy WMC Resources Ltd. for A$7.4 billion ($5.5 billion) in cash to add nickel and copper mines as China&#39;s demand for metals grows.
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PERTH (Dow Jones)--Trying to derail Xstrata Plc.&#39;s (XTA.LN) hostile takeover bid, WMC Resources Ltd. (WMR.AU) Thursday said it will return up to A$1 billion to shareholders
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Xstrata Plc, the world&#39;s biggest exporter of coal for power plants, will make a hostile A$7.4 billion ($5.8 billion) cash offer for WMC Resources Ltd.
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The London Stock Exchange today rejected a Â£1.35bn takeover approach from German rival Deutsche BÃ¶rse, but held open the prospect of further talks.
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Swiss mining group Xstrata PLC Monday launched a hostile 7.4 billion Australian dollar (US$5.8 billion; euro4.4 billion) bid for uranium and copper miner WMC Resources LTD, increasing pressure on the independent Australian miner.
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Britain's EMI Group Plc  rejected a 2.1-billion-pound ($4.1 billion) cash takeover proposal from Warner Music Group , saying the price was inadequate and not in the best interests of its shareholders.
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Xstrata Plc, the world&#39;s biggest exporter of power-station coal, offered A$7.4 billion ($5.5 billion) for WMC Resources Ltd. to gain nickel and copper mines.
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Leap Wireless International Inc.  said on Sunday its board of directors had rejected an unsolicited bid from larger rival MetroPCS Communications Inc. .
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A $7.4 billion takeover bid for the Australian mining company WMC Resources has seen its share price surge by 36 per cent. The Swiss-based mining house Xstrata wants to add WMC Resources to its Australian mining portfolio.
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MELBOURNE: Swiss-based miner Xstrata said on Monday it would take its A$7.4bn ($5.8bn) bid for Australiaâs WMC Resources directly to shareholders, turning hostile after WMCâs management rebuffed its offer last month.