Aussie coal miner Gloucester Coal Ltd
(ASX:GCL) says it has held talks with major shareholder Noble Group about a proposal which may involve the company acquiring certain of Noble’s Australian coal assets.
The company says these discussions are continuing and there can be no certainty that any agreement will be reached.
If an agreement is reached then it would require the approval of shareholders other than Noble.
Gloucester says Noble’s $12.60 bid, for the company will not be affected by any such proposal.
Gloucester says the independent directors are also exploring with Noble the possibility of retaining the ASX listing of Gloucester following the completion of the Noble offer, with Gloucester pursuing the acquisition of further coal assets in the future, whether from Noble or other parties.
Gloucester’s fiscal 09 profit after tax came to $81.74 million, up on the year before.
