June 7 (Reuters) - Coal miner Yancoal Australia (YAL) 3668.HK said on Tuesday a proposed acquisition by major shareholder Yankuang Energy 600188.SS would not be in the best interest of its minority shareholders.
Yancoal has not received an acceptable formal offer from Yankuang, the company confirmed, adding that an independent board committee advised against the deal.
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News: YAL Yancoal Australia recommends against Yankuang Energy's buyout deal
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