Shandong subsidiary tables bid for met coal explorer

摘要

Linyi Mining Group Co., a subsidiary of China's state-owned Shandong Energy Group Co., has tabled an 206 million Australia dollars (202.6 million dollars) takeover bid for Australian metallurgical coal explorer Rocklands Richfield. Perth-based Rocklands said Monday that the “majority” of its senior management viewed Linyi's cash offer of 0.52 Australia dollars per share as “attractive” and recommended its shareholders accept the bid.