Australia's MC Mining jumps on takeover offer from Vulcan Resources

MC Mining

11/03/2024 01:32

** Shares of MC Mining  MCM.AX  rise as much as 10.3% to
A$0.160, posting their biggest intraday percentage gain since
Nov. 3, 2023
    ** Stock hits its highest level since Nov. 16
    ** Coal miner says it received a non-binding indicative
takeover offer from Vulcan resources at offer price of between
A$0.17 per share and A$0.20 per share
    ** Lower end of offer price represents a 17.2% premium on
co's last close
    ** Stock down 3.3% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))