China backed coal miner Yancoal remains the favourite to win control of two of BHP's Oueensland coal mines after final bids landed last week.
The discussion in the market on Monday was that the $6.7bn Australian-listed Yancoal was still working hard on a transaction to buy the mines at the weekend.
There has been a suggestion that Yancoal was the only party among the final bidders to put forward a proposal for both the Daunia and Blackwater mines that are up for sale through investment bank
Macquarie Capital.
While the sense is that Yancoal remains the party to beat, a question being asked is whether it requires approval from the Foreign Investment Review Board, and whether this may deter BHP when it comes to picking the winner
It is understood that the $26bn Australian listed Stanmore Resources remains in contention, as does Whitehaven Coal, both thought to have put forward offers for one of the two individual assets.
From The Australian this afternoon
today, page-20
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Mkt cap ! $8.226B | |||
| Open | High | Low | Value | Volume |
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| 1 | 7401 | $6.22 |
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| $6.24 | 5076 | 3 |
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Change
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