Asian Consortium $1 Billion Bid for Arrium

Mining and steel making company, Arrium (ASX:ARI) has received an unsolicited bid from an Asian-led consortium called Steelmakers Australia.

  • Arrium's stocks on the ASX stockmarket jumped almost 25 percent to 68 cents per share on the announcement.
  • The takeover offer was received late last Friday afternoon from the consortium.

DuluxGroup Takeover of Alesco Corporation Looking More Likely

The marathon six month takeover battle for Alesco Corporation (ASX:ALS) by DuluxGroup (ASX:DLX) is looking more likely to go ahead. Alesco has been placed in a trading halt.

  • Alesco Corporation, the takeover target, has placed its shares on a trading halth ahead of talks with DuluxGroup about its $210 million takeover bid for the company.

Sonic Healthcare Abandons Healthscope Takeover

Radiology and pathology serve provider, Sonic Healthcare (ASX:SHL) have announced that it will abandon its takeover of Healthscope (ASX:HSP).

Hastings Diversified Rejects APA's Offer

Hastings Diversified Utilities Fund (HDF) has released its target statement today rejecting the takeover offer that it has received from rival APA Group in mid-December. The company board is recommending its investors to reject the offer as it undervalues the company.

African Iron's Major Shareholder Accepts Exxaro's Offer

South African miner Exxaro is on its move to takeover African Iron (AKI) after the ASX-listed company's major shareholder Cape Lambert Resources (CFE) accepted the offer of the bidder.

Exxaro Bids $338m for African Iron

Shares of Australian-listed company African Iron (AKI) climbed by 14 cents or 35 per cent to 54 cents after it announced that it signed a Takeover Bid Implementation Agreement (TBIA) with South African miner Exxaro Resources for a takeover for all of African Iron's shares.

Spotless Shareholders Threaten to Oust Board

Spotless Group (SPT) shareholders are close to calling an extraordinary general meeting and oust its board after bidder Pacific Equity Partners (PEP) disagreed to raise its bid to $2.80 without access to due-digiligence, as suggested by the facilities and services company.

Pacific Brands Shares Soar as KKR Offers $600m Takeover

Shares of clothing manufacturer Pacific Brands ( PBG) jumped to as much as 11 cents or 20 per cent to 67 cents in early trade after the company confirmed that it has received an unsolicited approach from US private quity giant KKR to buy the company.

"The board of Pacific Brands, together with its advisers Flagstaff Partners and Minter Ellison, is considering the approach and preliminary discussions are being held with KKR," said Pacific Brands.

Spotless Requests Higher Takeover Offer

Industrial services company Spotless Group (SPT) is suggesting for a higher takeover price as it requests its bidder Pacific Equity Partners (PEP) to raise its offer to $2.80 a share from its previous $2.68 offer last December. This will increase the company's value from $711 million to $743 million.

Rio Tinto Sweeps Up Hathor Shares

Mining giant Rio Tinto (RIO) is planning to sweep up the shares of Canadian uranium company Hathor Exploration as it acquires 93.76 per cent of the latter's shares. Rio Tinto currently owns 119.5 million Hathor common shares.

The mining giant offered a $C654 million takeover last year to the Canadian company, paying $C4.70 per outstanding common share. On December 22, Rio Tinto extended its offer until January 6, 2012 after it acquired 87.26 per cent of Hathor's shares.

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