Shares in Australia’s Arrium rose as much as 6% on Wednesday after the steel and iron ore company rejected a sweetened A$1.2 billion ($1.51 billion) bid from a consortium including South Korea’s POSCO and Singapore’s Noble Group.
Shares in Arrium rose as high as 85 Australian cents and last traded up 4.4% at 83.5 cents compared with the 88 cents per share offer from the Steelmakers Australia consortium.
Arrium had already rejected an offer at 75 cents per share.
This blog publishes market news relating to the companies listed in Singapore Exchange, as well as business news in general. You can search and find all the past market and business news by searching within this Blog.
Wednesday, October 31, 2012
Australia's Arrium up 6% after rejecting new $1.5b offer
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment