PE-backed Whitehaven Coal receives $5.5b takeover bid
Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share – a 50% premium to the previous closing price – for Whitehaven, one of Australia’s largest independent miners.
According to Tinkler Group, investors representing approximately 48.3% of the company's shares have expressed an interest in rolling their stakes into the bidding vehicle, subject to the completion of...
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