News Headline Summary

Pre-market Australian stocks news...

Alumina (AWC AT)
- Citic and entities raise shareholding in Co. to 13.04% from 7.83%. (Newswires)

GPT Group (GPT AT)
- A class action lawsuit of over USD 100mln against the Co. will head to court in two weeks after the last ditch efforts at mediation collapsed on Friday. (AFR)

Billabong International Ltd (BBG AT)
- Co. may find out as soon as this week if either of its takeover suitors plans to proceed with a bid for the Co. (The Australian)
- US clothing giant VF Corporation, has teamed with US boutique investment fund Altamont Capital Partners to mount a counter bid to Billabong Americas boss Paul Naude’s USD 527mln offer, which is backed bu Sycamore Partners and debt provider BofAML. (The Australian)

Commonwealth Bank of Australia (CBA AT)
- Ex-div. (Newswires)

Telstra (TLS AT)
- Ex-div. (Newswires)

Bradken (BKN)
- Ex-div. (Newswires)

Broker moves
- Iluka Resources (ILU AT) raised to sector perform, PT AUD 11.00 at RBC Capital.
- GPT Group (GPT AT) cut to underperform from neutral at Credit Suisse.

17 Feb 2013 - 22:27 - Equities - Source: Newswires/The Australian/Australian Financial Review

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