Tuesday, December 20

China's Yancoal in talks to buy Australia's Gloucester-sources

MELBOURNE, Dec 20 (Reuters) - Chinese-controlled Yancoal Australia is in talks to buy Gloucester Coal to create Australia's top independent coal miner, three sources said on Tuesday, as strong Asian demand drives a boom in coal deals.
Gloucester, which has a market value of $1.4 billion, confirmed it was in talks with an unnamed suitor on a potential takeover and requested a two-day trading halt on its shares pending an announcement on a deal.


Reuters UK

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