LONDON/JAKARTA (Reuters) - A potential bid by Indonesia's Sinarmas Group and hedge fund Argyle Street Management for London-listed Asia Resource Minerals Plc (ARMS) risks scuppering a long-awaited restructuring backed by ARMS co-founder Nathaniel Rothschild.
Shares in coal miner ARMS, formerly known as Bumi, jumped more than 90 percent to as high as 29 pence on Wednesday after Asia Coal Ventures, a vehicle controlled by Argyle and funded by tycoon Era Tjipta Widjaja's Sinarmas Group, said on Tuesday it was considering a 210 million pound cash offer.
By Silvia Antonioli and Cindy Silviana.
Full story at Yahoo News.
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