This article is 15 years old. Images might not display.
Gloucester said this morning it had entered the halt with the prospect of being the subject of a transaction relating to its control.
Noble Group took control of Gloucester this year in a $460 million unsolicited takeover. Noble now controls 87.7% of the New South Wales miner.
Gloucester said an announcement would be made before the close of business today.
Macarthur Coal said this morning it expected to make a “significant announcement in relation to a material corporate transaction”
The Queensland miner recently announced it expected its profits to dive 72% for the six months to December to $30-38 million.
Despite the drop, Macarthur has been optimistic on its project pipeline, forecasting a doubling of production over the next five years.
Macarthur last traded at $9.71 while Gloucester sits at $6.55.
