Indophil CEO Leads A$540 Million Bid to Trump Xstrata
June 23rd, 2008
Filed under: Mineral - Copper, Mineral - Gold, Operator - Indophil Resources NL, Operator - Xstrata
From: www.bloomberg.com
By Jesse Riseborough
June 20 (Bloomberg) — Indophil Resources NL Chief Executive Officer Richard Laufmann is leading a A$540 million ($514 million) cash management buyout to thwart a hostile bid from Xstrata Plc.
Laufmann, Hong Kong-based investment group Crosby Capital Ltd., and Alsons Group offered A$1.28 a share for Melbourne-based Indophil, 28 percent more than Xstrata, the buyout group said today in a statement. Indophil’s directors recommended the offer.
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