Mining behemoth BHP Billiton could be ready to make a $55 a share cash offer for Alabama-based 'pure play' metallurgical coal producer Walter Energy, according to the Daily Mail market report.
However, when contacted BHP remained tight-lipped, a spokesperson said: "It is market speculation and not something we care to comment on."
On November 29th, at its annual general meeting, BHP Billiton sounded a cautious note saying that while there have been signs of stabilisation, markets remain tough.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman Jac Nasser said that financial and economic problems continue to be felt across the world and "it's difficult to predict how and when they will be resolved but we do expect it to take considerable time".
CM
-
Is a mortgage in retirement always a bad idea?A mystery shopper exercise shows high street lenders are “shunning” retirees looking to take out a mortgage. Are they right to do so?
-
Three funds to consider as UK small caps trade at 30% discountUK small caps have been unloved for some time, but a shifting economic environment could give them a boost
