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Shares in New Hope Corporation Limited (ASX:NHC) leapt more than 20 per cent this morning after the Queensland coal producer revealed it had received a number of preliminary takeover proposals.
While New Hope has not named the bidders speculation has emerged Swiss mining giant, Xstrata, could be a likely suitor.
The company will now invite others to submit offers and then undertake a formal process to evaluate the proposals.
Chairman Robert Millner says New Hope has a very large reserve and resource base and significant development pipeline, as well as being a low cost producer with access to infrastructure.
In the 2011 financial year New Hope Corporation almost tripled its full year net profit to $503 million, though its profit on an underlying basis fell 20 per cent.
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Last
$4.32 |
Change
-0.040(0.92%) |
Mkt cap ! $3.651B | |||
| Open | High | Low | Value | Volume |
| $4.38 | $4.39 | $4.30 | $7.106M | 1.643M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 33998 | $4.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.32 | 148 | 1 |
View Market Depth
| Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
| NHC (ASX) Chart |