Sunday, April 29, 2007

UPDATE 2-Australia's Orica strong H1 may deter new bids

(Reuters) - Shares in the world's top explosives maker fell as much as 2 percent on Monday after some disappointment that the company did not provide stronger justification for rejecting a bid from a consortium led by Bain Capital and Blackstone Group.

Investors saw a 39 percent rise in first-half profit and the forecast of a significantly higher annual profit as cutting the chance of a renewed approach.


Read more at Reuters.com Market News

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