Rumors Swirl Around BHP Billiton Over Possible Walter Energy Bid: Merger and Acquisitions Wrap

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Chatter is swirling that Chief Executive Marius Kloppers of the mining major BHP Billiton Limited (NYSE:BHP) might be readying an offer of $55 per share for Walter Energy (NYSE:WLT), Alabama’s ‘pure play’ metallurgical coal producer. Shares of the latter ended the day Wednesday up more than 6.5 percent in New York, and BHP saw its stocks up 46.5p to 1998p in London. More rumors have it that BHP is planning a successor to Kloppers, perhaps Mick ‘the miner’ Davis, as he steps down as head of Xstrata (XSRAF.PK)(XSRAY.PK) once its now famous merger with Glencore International (GLCNF.PK) is completed. It has not always been easy going for Kloppers, who was heavily bashed for not being able to realize three important bids he initiated, namely, the full acquisition of Rio Tinto, a merger with the latter’s iron unit, and an offer for the Potash Corporation in Canada.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business