deA.Brighton says unaware of any RMC offer
SYDNEY, Oct 18 (Reuters) - Australian cement producer Adelaide Brighton Ltd dismissed speculation on Friday that its British parent RMC Plc was planning to buy out minority shareholders in the group.
"Adelaide Brighton Ltd advises that it is not aware of a takeover bid by RMC Group Plc (LSE: RMC.L - news) ," the company said in a statement to the Australian Stock Exchange.
Adelaide Brighton shares were trading 1.9 percent firmer at a fresh four-and-a-half year high of A$1.07 in a stronger overall market.
The Australian Financial Review newspaper said on Friday there was speculation RMC was about to launch a buyout for minority shareholders such as George Weston and BAT Australasia.
RMC has a 55 percent stake in Adelaide Brighton.
RMC TA
Short Term Commentary
The market is slightly oversold and without a clearly defined short term trend. A price recovery to the 409.28 level can as well be expected.
Medium Term Commentary
Medium term price trend for RMC is still bearish this week. This stock underperforms the FTSE 100 INDEX by -12.12 %. Volatility has been decreasing during last month.
ABC der ..........EFG...L
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Last
$3.18 |
Change
0.010(0.32%) |
Mkt cap ! $2.080B | |||
| Open | High | Low | Value | Volume |
| $3.17 | $3.18 | $3.17 | $1.263M | 398.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 5343478 | $3.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.18 | 469612 | 37 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$3.18 |
Change
0.010 ( 0.06 %) |
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| Open | High | Low | Volume | ||
| $3.18 | $3.18 | $3.18 | 2907504 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| ABC (ASX) Chart |