Deal and no deal. The board of Gloucester Coal has recommended its merger with the Australian arm of China’s Yanzhou. Just last week, though, fellow Australian coal miner New Hope abandoned an auction after it could not find a buyer at a price it liked (A$6bn). Merger activity in the coal sector has been booming for two years, absent the monster Glencore/Xstrata deal. The question is whether the trend is running out of – well, steam.
有些交易成功了,有些交易告吹了。Gloucester Coal董事会已建议与manbetx3.0 兖州煤业(Yanzhou Coal)在澳大利亚的子公司合并。就在上周,由于找不到愿出60亿澳元价格的买家,澳大利亚煤炭公司新希望(New Hope)取消了竞拍。这两年来,煤炭行业的合并活动一直颇为活跃,这还不包括斯特拉塔(Xstrata)与嘉能可(Glencore)规模庞大的合并交易。问题在于,这股趋势是否已是强弩之末。