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Blumont scraps $146m bid for Cokal as shares dive

Blumont shares plummet 59% in the morning before SGX suspends trade

Singapore BLUMONT Group has called off plans to buy Australia-listed Cokal Ltd for $146 million, for now, after its shares came crashing down to earth yesterday morning. Less than 12 hours after announcing an agreement to take over the initially unnamed coal mining company, Blumont said