Mallesons Stephen Jaques has advised Xstrata Coal on it’s $960 million unconditional cash bid for Resource Pacific.
Xstrata’s $2.85 a share bid is an 85% premium to the 30 day volume weighted average price. Xstrata Coal currently has a relevant interest of 15.56% in Resource Pacific shares after entering into a co-operation agreement with Marubeni Corporation, Resource Pacific’s largest shareholder.
The Mallesons team, including Partners Nick Pappas, Tim Bednall and Tony Bancroft, Senior Associate Robert Gibson and Solicitor Luke Green, have handled all aspects of the off market bid and drafting of the co-operation agreement between Xstrata Coal and Marubeni Corporation.