CAPITAL MARKETS

Centennial ups Austral ante as rival bidder emerges

DESPITE a potential cash bid by Swiss trading house Glencore, just over 42% of Austral Coal is now in the hands of initial predator Centennial Coal.

Angie Tomlinson

Centennial has amassed shares in the troubled New South Wales miner since February 23 when it made a scrip offer for Austral valued at $300 million. Centennial’s stake jumped from just over 34% to 42%...

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