Xstrata makes $391m bid for Gloucester

MINING giant Xstrata Coal yesterday emerged as the secret bidder for Gloucester Coal, putting forward a $A391 million bid for the New South Wales coal miner.

Xstrata makes $391m bid for Gloucester Xstrata makes $391m bid for Gloucester Xstrata makes $391m bid for Gloucester Xstrata makes $391m bid for Gloucester Xstrata makes $391m bid for Gloucester

The cash offer of $A4.75 per share has been unanimously recommended by the Gloucester Coal board of directors, who have cited a “unique synergy potential” with Xstrata’s existing NSW coal operations.

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