Aussie Mining Magnate Offers $5.4B For Whitehaven Coal

Law360, New York (July 13, 2012, 1:28 PM EDT) -- A consortium led by Australian billionaire Nathan Tinkler has lodged a $5.4 billion bid for Whitehaven Coal Ltd., Whitehaven confirmed after hours Friday, in an attempt to pounce on new assets even as coal prices plummet on shaky demand.

Tinkler Group Pty. Ltd. laid out an offer of AU$5.20 (US$5.29) per share for Whitehaven investors, representing a 51 percent premium over Friday's close. A month ago, Whitehaven spurned a nonbinding proposal from Tinkler but agreed Friday to give his group exclusive access to the company's books...
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