Australia&#39;s WMC rejects Xstrata bid
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Australian nickel and copper miner WMC Resources has rejected aA$7.4 billion (3 billion pounds) takeover bid from Swiss-based Xstrata, but has left the door open for a higher offer.
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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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Qantas Airways Ltd.&#39;s proposed alliance with Air New Zealand Ltd. was rejected by New Zealand&#39;s High Court, the latest blow in the carriers&#39; two-year attempt to team up to cut costs and ward off airlines such as Emirates.
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Australia's Qantas Airways Ltd.  rejected on Wednesday a A$10.9 billion ($8.6 billion) buyout offer from a group led by Macquarie Bank Ltd.  and private equity firm Texas Pacific Group .
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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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Australia's second-biggest retailer,  Coles Myer Ltd., on Wednesday rejected a A$17.3 billion ($13.3  billion) buyout bid by a private equity consortium, saying it  substantially undervalued the company.
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The Swiss mining company Xstrata began a hostile $5.8 billion bid for the Australian mining company WMC Resources yesterday, in what analysts said could turn into an international bidding war
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Australian nickel and copper miner WMC Resources Ltd (WMR.AX: Quote, Profile, Research) rejected aA$7.4 billion ($5.5 billion) takeover bid
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Swiss-based miner Xstrata says it will take its A$7.4 billion (3.1 billion pound) bid for Australia&#39;s WMC Resources directly to the company&#39;s shareholders, effectively making a hostile bid after WMC&#39;s management rejected its offer
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Australia second largest retailer Coles Myer has rejected what it termed a &quot;highly conditional&quot; takeover bid from a buy-out consortium, saying it substantially undervalued the company.
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As Swiss-based miner Xstrata pushes ahead with its A$7.4bn (US$5.8bn) hostile takeover bid for WMC Resources, debate over the deal has narrowed to one key issue - the potential of the Australian miner&#39;s giant Olympic Dam project.
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SYDNEY: Australian flag-carrier Qantas said it was disappointed a proposed alliance with Air New Zealand had been rejected by New Zealand&#39;s High Court but ruled out appealing the decision.
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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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THE board of Dexia, the Franco-Belgian bank, yesterday unanimously rejected a proposed â¬37 billion (Â£26 billion) merger with Italyâs Sanpaolo, bringing an end to what would have been Europeâs biggest cross-border bank deal.
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WMC Resources, the Australian mining group fighting a hostile A$7.4bn takeover bid from Xstrata, is to return up to A$1bn (US$1.3bn) to shareholders after yesterday upgrading its profit forecast for 2004.
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SWISS mining giant Xstrata issued documents yesterday backing its hostile $7.4 billion cash offer for WMC Resources, and cranked up a fear campaign to focus shareholder attention on the downside risk if the bid was to lapse.
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The Australian dollar may gain after Switzerland-based Xstrata Plc bid A$7.4 billion ($5.8 billion) for WMC Resources Ltd., stoking speculation it will have to buy dollars to pay shareholders.