Winfield Energy Lobs $300M Takeover Bid At Stanmore Coal

Law360 (August 7, 2019, 2:57 PM EDT) -- Australian metals and mining company Stanmore Coal on Wednesday said privately held Australian coal company Winfield Energy lobbed an unsolicited takeover offer that implies an up to AU$442 million ($298.7 million) equity value for the mining company.

Stanmore Coal Ltd.'s board said in its Wednesday statement that the AU$1.50 to AU$1.70 per-share terms of the non-binding offer are within the range that was deemed fair by BDO Corporate Finance (QLD) Ltd. in December, when Stanmore was being pursued by a suitor owned by both Golden Energy and Resources Ltd. and Ascend Global Investment Fund SPC. That earlier offer, which was made in November,...

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