Oct 17 (Reuters) - Stanmore Coal Ltd (SMR) on Thursday said that Winfield Energy had decided to scrap its proposed takeover of the company as the Brisbane-based miner failed to engage with key shareholders, causing Stanmore's shares to drop more than 6%.
Both companies had entered a process deed in August after Winfield's offer, which valued Stanmore at up to A$435 million ($293.93 million).
Stanmore was set to be Winfield's second coal buy this year, with the privately backed firm having bought a 12.5% stake in Queensland's Rolleston thermal coal mine in February.
($1 = 1.4799 Australian dollars)
News: SMR Australia's Stanmore Coal says Winfield scraps takeover, shares drop
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Last
$1.89 |
Change
-0.040(2.07%) |
Mkt cap ! $1.721B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.92 | $1.86 | $5.311M | 2.798M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6845 | $1.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.91 | 23293 | 4 |
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| Last trade - 16.11pm 23/06/2025 (20 minute delay) ? |
| SMR (ASX) Chart |