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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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