Yanzhou Coal, Felix Nearing Deal: Report

Law360, New York (August 10, 2009, 3:29 PM EDT) -- Chinese company Yanzhou Coal is nearing a deal to acquire Australian coal mining firm Felix Resources Ltd., according to published reports.

Felix Resources announced to the Australian Securities Exchange on Monday that it was halting trading of its shares immediately, “pending the release of an announcement regarding a potential change-of-control transaction,” but the companies have not made any definitive public announcements.

Citing an unnamed source briefed on the matter, Reuters reported Monday that Yanzhou Coal has reached an agreement to buy Felix in a deal worth...
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