failed placement price at 53.5 cents

Any chance of competition from other majors ?? (Xstrata, New Hope, Indians)

http://www.theaustralian.com.au/business/mining-energy/koreans-pull-plug-on-cockatoo-deal/story-e6frg9df-1226336573726

QUEENSLAND coal group Cockatoo Coal has been forced to rework its long-term financing needs for its aggressive expansion plans after Korea's SK Networks pulled the plug on a planned $313 million equity placement announced on March 13.

Under the deal, SK was to move from 5.5 per cent of Cockatoo to 40 per cent by taking up a placement at 53.5c a share.