SINGAPORE (Nov 19): Golden Investments, a joint offer vehicle 51% owned Golden Energy and Resources (GEAR), on Monday announced it has made a takeover bid for ASX-listed Stanmore Coal at A$0.95 per share.

The maximum consideration payable by Golden Investments under the offer would be A$201.13 million ($202 million).

The offer price is 10.5% above the volume weighted average price (VWAP) of A$0.8597 per Stanmore Coal share for all trades done on Friday. At the offer price, the 251.8 million issued Stanmore Coal shares value the target company at A$239.21 million.

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