Whitehaven Coal (ASX:WHC) has terminated a process to sell the company.
After a long running auction didn’t result with a suitable buyer, the company’s board has issued a statement announcing it has determined that no proposal is “sufficiently attractive to warrant recommendation to shareholders.”
The miner said only last month that China's Yanzhou Coal Mining Co had made the shortlist of potential bidders.
For the half year ended December 31, 2010, Whitehaven posted a net loss of $35 million.
