Whitehaven is making an off-market takeover bid of $1.00 for Coalwork shares.
No minimum required % of shares to b accepted. They already have 17.3%
Conditional upon the "strategic advisory" arrangement between Coalworks and Noble can be terminateed without any termination fees.
Coalworks did a a placement at $0.78 in April 2012 to Noble. (Noble now has 9%)
Is there a potential bidding war here? I am not sure but definitely worth a buy as I think there is limited downside.
(The post above was written on 7th May 2012 - Coalworks was trading at $0.99 then)
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