New Hope Corporation said Tuesday that it continued its talks with an undisclosed number of third parties wanting to acquire the Queensland-based thermal coal miner, after inviting takeover interest last October.
Some of the interested third parties, including a number of Indian companies, had carried out due diligence into New Hope over the last three months, the company said.
"New Hope remains in discussion with those third parties, and those discussions remain confidential and incomplete. There is no certainty that a suitable proposal will be recommended by the board of New Hope," the company said in its report for the quarter ended January 31.
The Ipswich-based company invited takeover offers in October last year after receiving unsolicited approaches from third parties.
New Hope is one of the largest standalone coal companies listed on the Australian Securities Exchange and its stock market value Tuesday was A$4.7 billion ($5 billion) based on its share price of A$5.70/share and its 830 million issued shares.
Some of the interested third parties, including a number of Indian companies, had carried out due diligence into New Hope over the last three months, the company said.
"New Hope remains in discussion with those third parties, and those discussions remain confidential and incomplete. There is no certainty that a suitable proposal will be recommended by the board of New Hope," the company said in its report for the quarter ended January 31.
The Ipswich-based company invited takeover offers in October last year after receiving unsolicited approaches from third parties.
New Hope is one of the largest standalone coal companies listed on the Australian Securities Exchange and its stock market value Tuesday was A$4.7 billion ($5 billion) based on its share price of A$5.70/share and its 830 million issued shares.
Platts
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