(Bloomberg) -- Shares of Orica Ltd. rose 5.5
percent on speculation the world's largest explosives maker may
receive a second takeover offer after the company rejected a
A$9.95 billion ($8.7 billion) buyout in April.
There's talk of a bid of A$37 a share, said Albert Landman,
who manages more than $70 million at Tricom Futures Services in
Melbourne. Orica had ``no comment,'' said spokesman John Fetter.
Stuart Barton, a spokesman for UBS AG, which advised Orica when
it rejected the earlier offer, also declined to comment.
Read more at Bloomberg Commodities News
percent on speculation the world's largest explosives maker may
receive a second takeover offer after the company rejected a
A$9.95 billion ($8.7 billion) buyout in April.
There's talk of a bid of A$37 a share, said Albert Landman,
who manages more than $70 million at Tricom Futures Services in
Melbourne. Orica had ``no comment,'' said spokesman John Fetter.
Stuart Barton, a spokesman for UBS AG, which advised Orica when
it rejected the earlier offer, also declined to comment.
Read more at Bloomberg Commodities News
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