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Reported by Dow Jones Newswires, the source was a person 鈥渇amiliar with the situation鈥� who said the application to the panel was one of the few options available to Noble.
As a 21.7% shareholder of Gloucester, Noble has already voiced concern the proposed merger structure did not allow the company鈥檚 shareholders a vote on whether or not the merger should go ahead.
The proposed merger between Gloucester and Whitehaven will create a company with a market capitalisation of $A900 million, placing it fourth in a line-up of its Australian coal peers, below Coal & Allied, New Hope Corporation and Felix Resources.
The deal is subject to 80% Whitehaven shareholder approval and clearance by the Foreign Investment Review Board due to Hong Kong-based Noble鈥檚 21.7% foreign ownership of Gloucester.
Yesterday Gloucester confirmed a company shareholder vote was not required for the proposed merger.
Back in 2007, Noble and private mining group AMCI used their stakes to vote down a takeover offer by Xstrata Coal, despite the wishes of Gloucester鈥檚 board.
The Takeovers Panel, established under the Australian Securities and Investments Commission Act, can block a takeover if it declares it has unacceptable circumstances.
