Tuesday April 29, 2008, 2:35 pm
Midwest Corporation has gone into a trading halt pending a company response to a hostile takeover bid by Chinese trader Sinosteel.
Company executives have been locked in a meeting all morning but there is speculation Midwest will agree to the $5.60 a share offer.
If Sinosteel's bid is successful it will be the first takeover by a Chinese corporation for an Australian company.
Midwest has previously said Sinosteel's offer is opportunistically timed.
The company's shares last traded at $6.10.
FROM: YAHOO FINANCE
MIS
midwest corporation limited
Tuesday April 29, 2008, 2:35 pm Midwest Corporation has gone...
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