Per Mail online
BHP’s $55 cash offer for WLT could start a good old fashion bidding war possibly bringing Walt well over its $125 intrinsic value.
Just my humble opinion
I’m long and strong.
Good Luck and Merry Christmas.
“MARKET REPORT: BHP Billiton eyes bid for Walter Energy
By GEOFF FOSTER
PUBLISHED: 17:52 EST, 5 December 2012 | UPDATED: 17:52 EST, 5 December 2012
Speculation has intensified that chief executive Marius Kloppers’s swan song at mining giant BHP Billiton, 46.5p up at 1998p, could be a $55 a share cash offer for Alabama-based ‘pure play’ metallurgical coal producer Walter Energy, whose shares were trading 4pc higher at $30.94 in New York early yesterday.
BHP Billiton is already said to be planning for a successor to the 50 year-old South African and rumours have been doing the rounds recently that Mick ‘the miner’ Davis could take his place. He will be standing down as boss of Xstrata (3.5p off at 1022p) once its mega merger with Glencore International (0.8p easier at 340.5p) goes through.
Kloppers faced a mountain of criticism for failing to clinch three major bids he launched – a full takeover of Rio Tinto, a merger with Rio Tinto’s iron business and a bid for Canada’s Potash Corporation.”