SYDNEY, April 20 (Reuters) - Australian miner Gloucester Coal is reviewing its position after shareholders of its major investor, Hong Kong-based Noble Group, rejected a proposed merger of Gloucester and rival Macarthur Coal.
Shareholders in Noble, a commodity trader, voted against selling Noble's stake in Gloucester to Macarthur, the world's leading exporter of a cheaper, cleaner coal coveted by steelmakers.
Macarthur is a takeover target in its own right, having received competing offers from U.S. miner Peabody Energy and local rival New Hope Corp.
(Reporting by Mark Bendeich; Editing by Balazs Koranyi) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: MACARTHUR/GLOUCESTER (mark.bendeich@thomsonreuters.com; +612 93731817; mark.bendeich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shareholders in Noble, a commodity trader, voted against selling Noble's stake in Gloucester to Macarthur, the world's leading exporter of a cheaper, cleaner coal coveted by steelmakers.
Macarthur is a takeover target in its own right, having received competing offers from U.S. miner Peabody Energy and local rival New Hope Corp.
(Reporting by Mark Bendeich; Editing by Balazs Koranyi) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: MACARTHUR/GLOUCESTER (mark.bendeich@thomsonreuters.com; +612 93731817; mark.bendeich.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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