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
$2.06 |
Change
-0.120(5.50%) |
Mkt cap ! $1.856B | |||
| Open | High | Low | Value | Volume |
| $2.10 | $2.10 | $1.95 | $7.277M | 3.542M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 600 | $2.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.07 | 1005 | 1 |
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| Last trade - 16.10pm 25/08/2025 (20 minute delay) ? |
| SMR (ASX) Chart |