Australia's MC Mining jumps on takeover proposal

MC Mining

03/11/2023 03:25

** Shares of MC Mining  MCM.AX  soar 46.2% to A$0.19
    ** MCM will clock its best day since July 28, 2022, if gains
hold
    ** Coal miner says it has received a takeover proposal from
Senosi Group Investment Holdings Proprietary and Dendocept
Proprietary
    ** Consortium has made a proposal for an off-market cash
acquisition of all shares of MCM it currently does not hold - co
    ** Says indicative cash consideration offer per ordinary
share between A$0.20 and A$0.23 
    ** Indicative offer represents a premium of 54%-77%, as of
MCM's last closing price
    ** Stock down 52.7% YTD, as of last close 
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))