Whitehaven Coal
(ASX:WHC) has responded to media speculation relating to a potential transaction with billionaire Nathan Tinkler.
The coal producer confirmed late yesterday that it received an indicative and non-binding proposal from Mr Tinkler to privatise the company.
Whitehaven says it is unlikely to proceed with the initial offer, as it is “highly conditional and incomplete.”
Whitehaven completed a $5.1 billion merger with Mr Tinkler’s Aston Resources last month.
In the first half of the 2012 financial year Whitehaven Coal reported a net profit of $19.9 million.
