Walter Energy Gaining on Reports of Possible Bid
Walter Energy Inc (WLT.TO) is easing from its best levels of the day but remains ahead more than 26% this morning following newspaper reports Anglo American was weighing a bid for the coal miner.
The Times of London newspaper reported that Anglo could bid $120 per share for the producer of metallurgical coal, which is use to make steel. Officials at Alabama-based Walter Energy has declined to discuss the story.
Shares reached as high as $97.50 each during the first 30 minutes of TSX trade.
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