The intrigue around the empire of mining entrepreneur Michael Kiernan continues to bemuse, with the cornucopia of companies with which Kiernan associates appearing to spend more time in administration than US-based airlines.
Michael kiernan
Kiernan: from security guard to larger-than-life mining character
Michael Kiernan, former boss of Consolidated Minerals, remains one of the Australian mining industry’s most colourful figures, having developed for himself a “black widow” reputation in the sector.
A third bidder emerges for Consolidated Minerals
A third bidder has officially emerged for Consolidated Minerals, with Belize-based Palmary Enterprises, launching an off-market bid worth $3.95 per share (which values ConsMin at just under $900 million).
ConsMin takeover battle takes another twist
The intriguing battle for Consolidated Minerals took another turn this morning, with the Pallinghurst Investment fund abandoning its planned scheme of arrangement and launching a $3.30 per share, all-cash takeover offer for ConsMin – a price which is below ConsMin’s current market price.
Besieged ConsMin needs a good salesman
Besieged mid-tier miner, Consolidated Minerals, today announced a strong return to profitability, with the company forecasting net profit of $30 - $31 million for the year ending 30 June 2007. A mere ten minutes later, the company announced that the scheduled scheme meeting to approve of Pallinghurst’s offer for the company was still proceeding.
ConsMin seems to be in the “Revlon zone”
Make no mistake, the takeover battle for Consolidated Minerals is starting to get ugly, writes Adam Schwab.
The independent expert’s report: An unusual, even odd, oxymoron
If the battle for Consolidated Minerals has proved anything, it’s that the biggest oxymoron in finance remains the ‘independent expert’s report’.
