domain-b: Trading in Australia's Gloucester Coal was halted yesterday following reports that it is in talks to sell itself to Chinese state-owned Yanzhou Coal Mining. Citing a person with knowledge of the matter, Bloomberg reported yesterday that China's fourth-largest coal producer Yanzhou Coal Mining Co plans to buy Australia's Gloucester Coal Ltd, in a $2 billion cash and stock deal. In a statement to the Australian Stock Exchange (ASX),
Gloucester said that it had requested trading of its shares be temporarily stopped "pending the release of an announcement by the company". Read Full: domain-b.com : China's Yanzhou plans to buy Australia's Gloucester Coal for $2 bn
