Australian coking coal producer Whitehaven Coal has responded to media speculation regarding a buyout proposal by the company's largest shareholder, Nathan Tinkler, owner of Tinkler Group.
Whitehaven confirmed that it has received a non-binding proposal from Tinkler Group, explaining that the proposal is highly conditional and incomplete. However, the company has established a committee of directors to respond to any future offers, on the possibility that a more complete proposal would emerge.