Treger triggers £2bn bid

first_img JULIAN Treger, the well known shareholder activist, has triggered the sale of the Aim market’s largest company Western Coal by agreeing to sell a 23.5 per cent stake in it to Walter Energy, the US coal company.Treger, who came off the board of Western Coal last month, owned the stake through one of his funds, the Audley European Opportunities Master Fund.Treger has agreed to sell 40 per cent of his shareholding now for cash, with the rest later subject to him getting a higher offer from another buyer.If the sale of his entire holding goes through at the current price he will have netted £530m from an investment that cost only around £20m three years ago.Walter Energy has said it wants to buy Western Coal for $11.50 a share, valuing it at $3.3bn (£2.06bn), more than any other Aim company.Western Coal says it sold three million tonnes of coal last year but expects to get to six million tonnes by this year. It is being advised in the UK by Nick Wells at Cenkos Securities. Treger triggers £2bn bid Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content Thursday 18 November 2010 8:17 pmcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share Tags: NULLlast_img

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