Yanzhou Signs $2.7B Deal For Australian Coal Co.
The Chinese company will pay Gloucester shareholders $3.20 per share, according to the merger agreement. Yanzhou's Australian arm, Yancoal Australia Ltd., will also absorb about $700 million of Gloucester's outstanding debt, the Australian company said.
The cash deal will give Yanzhou a 77 percent stake in the merged company, with Glouceseter...
To view the full article, register now.