Aston Resources merger with Whitehaven Coal wins supportNEIL...

Aston Resources merger with Whitehaven Coal wins support
NEIL GOFFET
16 Apr, 2012 12:00 PM
NATHAN Tinkler’s billion dollar pay day has arrived with Aston Resources shareholders voting to endorse the takeover from Whitehaven Coal.
The vote for the takeover was overwhelmingly in favour of the deal with 99.94 per cent voting for the deal and 0.06 against according to figures posted on the Australian stockmarket.

The the combined company will have market capitalisation of about $5.1 billion, valuing Mr Tinkler’s 19 per cent at $970 million.

Whitehaven also voted in favour of taking Mr Tinkler’s unlisted company Boardwalk Resources that has a 17.3 per cent interest in ASX listed company Coalworks.

‘‘Boardwalk’s assets are located in established coalmining areas with well understood geology in proven coal basins,’’ the Whitehaven statement said.

‘‘All of the Boardwalk exploration assets are located near established mines or coalmining development projects and existing rail infrastructure.’’

Whitehaven planned to issue shares in return for the acquisition of Boardwalk Resources and 1.89 Whitehaven shares for every Aston share as part of the deal.


http://www.theherald.com.au/news/local/news/business/aston-resources-merger-with-whitehaven-coal-wins-support/2522809.aspx