Tinkler Proposes To Buy Whitehaven Coal

MarketWatch reported that Australia’s Tinkler Group is trying to purchase Whitehaven Coal (ASX:WHC).

As quoted in the market news:

Gareth James, an analyst at Morningstar in Sydney, said takeover bids in the coal industry are generally done on a premium of about 30% but Mr. Tinkler may have to increase that given the weakness in Whitehaven’s shares. The share price has fallen more than 20% since Whitehaven in mid-December struck a deal to buy Aston and Boardwalk as prices for coal have slumped amid concerns over demand.

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