Australia's Jubilee Mines sells to Xstrata

Xstrata offers $2.8 billion to take over the Australian nickel producer after securing 17.5% of the company's shares.

Global mining group Xstrata has launched a A$3.1 billion $2.8 billion takeover bid for Australian nickel producer Jubilee Mines.

Xstrata is offering A$23 per share which represents a premium of 36% to the 30-day volume weighted average price of Jubilee, a 35% premium to the closing price on October 26 and a 25% premium to the stock's all-time high. But after the deal with Xstrata was announced, enthusiastic Jubilee shareholders pushed the share price up by 40% to close at...

To continue reading, please login or register for free

Click for more on: xstrata | jubilee mines | kerry

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...