Credit Suisse has labelled Yanzhou Coal Mining's offer for Yancoal Australia an opportunistic take-under

Credit Suisse has labelled Yanzhou Coal Mining's offer for Yancoal Australia an opportunistic take-under. The broker said Yanzhou's offer of 0.91 Yanzhou CDIs per Yancoal share was worth about 69c a share, a 1c discount to Yancoal's closing price of 70c. The main question is whether Yanzhou can secure FIRB approval given the existing conditions relating to the Yanzhou-Felix merger in 2009 and the Yanzhou-YAL merger in 2012. BoA Merrill Lynch analysts say FIRB approval is likely to waive previous conditions given the weak outlook for coal and the plethora of coal assets currently on sale.


2 topics

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

trending on livewire
Get the best of Livewire by signing up to our popular daily newsletter