BUSINESSMEN – AUSTRALIA

Stokes happy with BC Iron takeover bid

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 17 : 12-Aug-14

Australian businessman Kerry Stokes will be the largest shareholder of BC Iron if its $250m cash and scrip bid for Iron Ore Holdings (IOH) succeeds. Stokes has a 25 per cent stake in the target, and the offer of $A0.10 per share plus 0.44 shares in BC Iron for every IOH share would give him a 19 per cent stake in BC. IOH shares rose by $A0.37 to $A1.35 on 11 August 2014, while BC Iron was down $A0.32 at $A2.99

CORPORATES
BC IRON LIMITED – ASX BCI, IRON ORE HOLDINGS LIMITED – ASX IOH, FORTESCUE METALS GROUP LIMITED – ASX FMG, AURIZON HOLDINGS LIMITED – ASX AZJ, SHANGHAI BAOSTEEL GROUP CORPORATION, AQUILA RESOURCES LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEXUS ENERGY LIMITED – ASX NXS

Big offer for Lew’s Country Road stake

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 11 : 22-Jul-14

Country Road executives have advised shareholders to accept Woolworths Holdings’ offer of $A17 per share. Businessman Solomon Lew has an 11.8 per cent stake in the retailer, and his support for the offer is crucial if Woolworths is to gain full ownership. An independent expert’s report by Lonergan Edwards & Associates has valued Country Road shares at between $A14.92 and $A16.22

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, LONERGAN EDWARDS AND ASSOCIATES LIMITED, DAVID JONES LIMITED – ASX DJS, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WITCHERY FASHIONS PTY LTD, MIMCO PTY LTD