NHC 2.13% $4.80 new hope corporation limited

News: New Hope bids for Bridgeport Energy

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    Coal producer New Hope Corporation Limited (ASX:NHC) has launched a takeover bid for all the shares it does not currently hold in Bridgeport Energy.



    Bridgeport Energy has recommended a cash offer at $0.41 per share and both companies have entered into a bid implementation agreement.



    New Hope says it expects to pay a maximum of $45 million if the takeover goes ahead.



    New Hope Corporation reported a net profit of $101 million in the first half of the 2012 financial year.

 
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