China's Baosteel in $1.3 bn bid for Australia's Aquila | Bangkok Post: news

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China's Baosteel in $1.3 bn bid for Australia's Aquila

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Chinese iron and steel giant Baosteel on Monday said it was readying a takeover bid for Aquila Resources that values the Australian iron ore and coal firm at Aus$1.4 billion (US$1.3 billion). 

Rolls of steel are processed at the Baosteel mill in Shanghai, June 6, 2013

Baosteel Resources Australia, a subsidiary of the Chinese parent's overseas development arm, and Australian rail freight operator Aurizon are offering Aus$3.40 per share in cash for the company.

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