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Shares in New Hope Corporation Limited (ASX:NHC) leapt more than 20 per cent this morning after the Queensland coal producer revealed it had received a number of preliminary takeover proposals.
While New Hope has not named the bidders speculation has emerged Swiss mining giant, Xstrata, could be a likely suitor.
The company will now invite others to submit offers and then undertake a formal process to evaluate the proposals.
Chairman Robert Millner says New Hope has a very large reserve and resource base and significant development pipeline, as well as being a low cost producer with access to infrastructure.
In the 2011 financial year New Hope Corporation almost tripled its full year net profit to $503 million, though its profit on an underlying basis fell 20 per cent.
News: New Hope shares leap on takeover offer
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Last
$4.76 |
Change
0.060(1.28%) |
Mkt cap ! $3.905B | |||
| Open | High | Low | Value | Volume |
| $4.75 | $4.81 | $4.72 | $1.628M | 341.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 16481 | $4.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.76 | 353 | 5 |
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| Last trade - 11.39am 02/12/2024 (20 minute delay) ? |
| NHC (ASX) Chart |
