PMEA Blog

From: business.inquirer.net
By Conrado Banal III
Philippine Daily Inquirer
In the New York leg of her US visit this week, the Grandma at the Palace will keynote a seminar. Hmmm, rather interesting!
Well, this is New York, the world’s financial capital. I don’t think the president wants to go there to watch a Broadway musical. Her swing to New […]

From: www.theaustralian.news.com.au
IT is not often that a board of directors finds reason to welcome naked defeat at an extraordinary general meeting. But that’s the space Robin Widdup & Co at Lion Selection found themselves in yesterday.
In voting down Widdup’s canny deal to sell 17.7 per cent of Indophil to Xstrata, shareholders of Lion Selection have […]

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, […]

From: www.theaustralian.news.com.au
XSTRATA has upped its bid for Philippine miner Indophil but the junior’s boss has again implored Lion Selection shareholders to help block the Swiss mining giant’s grab for his company.
Lion Selection, which controls 25.4 per of Indophil, said on Friday it would recommend shareholders vote against two resolutions at today’s meeting unless Xstrata matched […]

From: business.theage.com.au
By Barry Fitzgerald
A SCARE campaign by Lion Selection about the dangers of mining investment in the Philippines — in support of its takeover defence — has angered other Melbourne-based groups that have interests in the country.
Included in that number is Indophil, the subject of a $1-a-share takeover bid from Xstrata and the group that […]

From: business.theage.com.au
By Ian McIlwraith
INDOPHIL Resources has added another layer to the complex battle with its largest shareholder, Lion Selection, by complaining to the Takeovers Panel.
A statement from the panel said the Melbourne-based explorer claimed some statements by Lion in response to Indophil’s $340 million share swap offer were “false and misleading, contain omissions and […]

From: www.sunstar.com.ph
TAMPAKAN, South Cotabato — Major global mining player Xstrata Copper has expressed intention to buy out the stakes of junior partner Indophil Resources NL at a copper and gold project here stiffly opposed by the local Catholic Church.
Indophil, however, immediately rejected the offer.
Arroyo Watch: Sun.Star blog on President Arroyo
Xstrata’s cash offer was priced at […]

From: www.theaustralian.news.com.au
IN a move designed to fend off a takeover from Indophil Resources, mining investment group Lion Selection plans to return $267 million in cash to shareholders, in the process helping Swiss miner Xstrata in its bid for Indophil.
Lion shares rose 8 per cent to a four-month high of $1.78 on the announcement, which proposes […]

From: business.smh.com.au
Barry FitzGerald
INDOPHIL Resources’ managing director, Richard Laufmann, has been threatening to do something big since joining the cashed-up Philippines copper and gold group.
But few picked that Indophil would be bold enough to make a $340 million scrip bid for its 25.7 per cent shareholder, Lion Selection.
It is a case of the aggressive cub, Indophil, […]

GLOBAL miner Xstrata and its Australian partner Indophil Resources are potentially facing further raids at their Tampakan project in The Philippines after communist rebels warned of a campaign to stop the mine going ahead.
But Xstrata said it remained committed to the project, which it said had strong government and community support.
The communist-backed New Peoples Army […]