Australian coal miner Coal & Allied Industries Ltd. (CNA.AU) suspended its shares from trading in Sydney Friday, saying it was preparing to make a statement on the planned takeover offer for the company by Rio Tinto PLC (RIO) and Mitsubishi Corp. (8058.TO).

The offer would see the two companies, which hold respective 75.7% and 10.2% stakes in the coal miner, buying out minorities in the business to end up with respective stakes of 80% and 20%. The A$122 per share indicative bid values the company at A$10.6 billion.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

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