Gloucester Coal Vote Deferred By A Week
Australian miner Macarthur Coal has announced a one-week delay in a shareholder vote on whether to take over smaller rival Gloucester Coal Ltd.
In a statement on Friday the company said that a shareholder meeting due to take place on Monday will now take place on 19 April.
The company has delayed the vote after some shareholders complained there was not enough time to review all the information the company has disclosed with regards to the matter.
Macarthur is fighting a takeover battle with America’s Peabody Energy. Earlier on Friday Macarthur rejected a counter-bid from Australian coal miner New Hope.
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