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Whitehaven Coal Close to Takeover

Whitehaven Coal Ltd. (ASX:WHC) may be facing a buyout. As per the company statement Whitehaven confirmed that a data room has been in place for a long time in relation to various potential transactions. However the uncertainty over any proposal developing due to the current third party talks still existed.

As of now First Reserve Corporation Ltd. and Alpha Natural Resources Ltd. are both considering a joint buyout of Whitehaven Coal Ltd. which would be worth about Australian dollars 3 billion. First Reserve already owns 27% of Whitehaven and is its biggest share holder, while AMCI group owns 15% stake in the company and is the second largest share holder.

The private equity company First Reserve wants AMCI to take the coal miner private and then sell part of it to Alpha Natural. The speculations over the deal have caused the shares in Whitehaven to jump to $ 6.36. Whitehaven produces high quality thermal coal and has reported that it is in talks with third parties over potential deals.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.


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