BREAKFAST DEALS: Coal shoulder

New Hope meets a dead end in its long sale process, while fellow coalminer Aquila has more luck offloading assets.

New Hope’s decision to conduct a sales process helped squash some of the unrest over the cross-ownership structure it shares with Washington H Soul Pattinson and Brickworks that consolidates power to Robert Millner. Now, we can expect some of these tensions to re-emerge after the sales process fell over. Meanwhile, regulators are starting to look at whether Crown should be allowed to increase its stake in Echo Entertainment, even though it kind of doesn’t own it yet. Elsewhere, UK-listed Weir Group isn’t giving up the fight for mining services company Ludowici with another request to the Takeovers Panel, Extract Resources directors have given the green light to the China Guangdong Nuclear Power offer and the corporate regulator has its eye on banking hybrids.


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