In brief
Stephen Wisenthal
Resource Pacific says reject
Resource Pacific said investors should reject a $2.85-a-share cash takeover bid from Xstrata Coal because the independent expert InterFinancial had valued the stock at between $3.56 and $4.09, based on a plan to lift annual output to 8 million tonnes. The value to Xstrata was even higher as Resource Pacific's Newpac mine unlocks access to additional coal. Stephen Wisenthal
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