M&A

Kangaroo bounces on Bayan bid

INDONESIAN coal player Kangaroo Resources is subject of a mop-up bid by its major shareholder Bayan Resources, with the pair signing an agreement today that values Kangaroo shares at almost three times what they are have been worth on the local bourse in recent weeks.

 Kangaroo by Christopher Burns.

Kangaroo by Christopher Burns.

The offer price is at a 275% premium to the closing share price on May 4.   News of the discussions was confirmed after that date after the company attracted a speeding ticket when its shares rose...

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