The company is one of the few remaining large coal groups in Australia after a flurry of deals in the past year, including the A$4.9bn takeover of Macarthur Coal by Peabody Energy and ArcelorMittal in August and Yanzhou Coal’s proposal to buy Gloucester Coal via a complex reverse takeover.
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New Hope was put on the block in October after being approached by potential suitors that included Indian conglomerate Aditya Birla and Vedanta Resources, the London-listed resources group controlled by billionaire Anil Agarwal. China’s biggest coal producer Shenhua Group was also believed to have made an approach.
New Hope was put on the block in October after being approached by potential suitors that included Indian conglomerate Aditya Birla and Vedanta Resources, the London-listed resources group controlled by billionaire Anil Agarwal. China’s biggest coal producer Shenhua Group was also believed to have made an approach.
Financial Times
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