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Jindal Steel may be second time unlucky with Rocklands

Jindal Steel has made a renewed attempt at acquiring Australian coal-miner Rocklands Richfields, though it is unclear if this would be any more successful than earlier. Jindal has increased the price and extended the deadline 10 days before it was to expire, of its open offer to shareholders. Jindal Steel, on May 26, increased its offer price for the shares to $0.3 per share from $0.25. The company also extended the deadline for the open offer date from June 6 to June 20. However, the increased offer price of $0.3 per share is below the price at which the shares are traded currently. The ...