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According to media reports, on Friday Anglo approached Excel with an offer that bettered Peabody’s original takeover bid of $8.50 per share.
Peabody reacted quickly and decisively on Monday lifting its bid to $9.50 per share and taking control of 19.99% of the company. That 19.99% stake has all but crushed any hopes of a rival bidder coming into play.
Anglo Coal communications manager Diane Collier said the company was not commenting on the speculation.
Anglo Coal already has an impressive portfolio of coal assets in Australia’s coal hot spots, the Bowen Basin and Hunter region, as well as a number of significant new projects in the works, making Excel a compatible and smooth takeover option. However, its track record of takeover bids in Australia has been a dismal one.
Just last month rumours were rife that global mining house Rio Tinto, Swiss-based Xstrata and Brazilian miner CVRD were considering a bid for Anglo American.
