YAL 0.19% $5.24 yancoal australia limited

(Adds details, shares) June 23 (Reuters) - Miner and trader...

  1. 184,651 Posts.
    lightbulb Created with Sketch. 2711

    (Adds details, shares)

    June 23 (Reuters) - Miner and trader Glencore Plc said on Friday it had submitted a higher offer to buy Australian miner Rio Tinto's (RIO) stake in Coal & Allied Industries Ltd for $2.675 billion in cash plus a coal price-linked royalty.[nRSW0475Ja]

    The offer from Glencore, up from its previous $2.55 billion, comes three days after Rio Tinto selected Yancoal (YAL) on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion.

    Glencore said the offer was at least $225 million greater than Yancoal's proposal and that the full $2.675 billion cash consideration was payable in full on completion with no deferred payments.

    "Rio Tinto must provide Yancoal with the opportunity to present a counter offer. If any such counter offer is determined by the Rio Tinto board to be equally or no less favourable than the competing proposal, then Rio Tinto must accept the Yancoal counter offer," Glencore said.

    Glencore shares were down 1.1 percent at 278.80 pence at 1344 GMT while London-listed shares in Rio were up 0.4 percent at 3050 pence.

 
watchlist Created with Sketch. Add YAL (ASX) to my watchlist
(20min delay)
Last
$5.24
Change
0.010(0.19%)
Mkt cap ! $6.919B
Open High Low Value Volume
$5.25 $5.30 $5.22 $9.660M 1.838M

Buyers (Bids)

No. Vol. Price($)
3 5227 $5.22
 

Sellers (Offers)

Price($) Vol. No.
$5.30 5000 1
View Market Depth
Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
$5.25
  Change
0.010 ( 0.61 %)
Open High Low Volume
$5.27 $5.30 $5.22 158507
Last updated 15.59pm 29/03/2024 ?
YAL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.