Bathurst Resources Ltd (ASX: BTU) will place 50 million ordinary shares with sophisticated investors at a price of 5 cents per share to raise up to $2.5 million. A Share Purchase Plan will offered to shareholders.
JAMES Packer's Crown surged nearly 17 per cent today after it cancelled an original deal to buy Cannery Casinos in the US.
Feb. 21 (Bloomberg) -- Australia's S&P/ASX 200 Index gained, led by Australian Gas Light Co. after Alinta Ltd. bid A$8.9 billion ($6.6 billion) for the company.
The S&P/ASX 200 Index advanced 43.6, or 0.9 percent, to 4879.1 at the 4:15 p.m. close in Sydney. About 13 stocks rose for every nine that fell.
New Zealand's NZX 50 Index fell 0.1 percent to 3368.43 at the 5 p.m. close in Wellington.
If oil prices were to keep rising from current levels the whole oil sector will continue to appreciate. But some oil stocks will do better than most because they have the capacity to increase production above current levels and reap the benefit of higher prices.
THE majority of Australians are opposed to a takeover of mining company WMC Resources, though BHP Billiton is a preferred buyer to Swiss-based Xstrata, Roy Morgan Research revealed today.
BlueScope Steel, flush with cash thanks to soaring steel prices, announced a doubling of its half-year net profit to a record $485 million on Monday and unveiled plans for a $200 million off-market buyback.
SYDNEY: Australian flag-carrier Qantas Airways reported yesterday a 28% rise in first-half profit to a record high as cost cuts and hedging offset higher jet fuel prices, but warned that fuel costs would increase in the second half and beyond.
MELBOURNE (Dow Jones)--Switzerland-based resources company Xstrata PLC (XTA.LN) on Wednesday lifted its takeover offer for Australian miner WMC Resources Ltd. (WMC) to A$7.20 a share from its initial offer of A$6.35.
This is an increase of A$1 billion, or 13.4%, over the initial offer, now valuing WMC at more than A$8.4 billion.
Jan. 18 (Bloomberg) -- Foster's Group Ltd.'s A$3.1 billion ($2.4 billion) hostile bid for Southcorp Ltd. is a ``mistake,'' because it's paying too much to buy a company that's recovering from a record loss, while trying to boost earnings at its own wine unit, brokers including Merrill Lynch & Co. said.
XSTRATA moved a step closer to finalising its offer to buy out WMC Resources by fulfilling the regulatory 15-day waiting period required under the conditions of its bidder's statement released last month.
