MELBOURNE (Dow Jones)--China's Yanzhou Coal Mining Co. (1171.HK) is believed to have made an indicative offer of A$20.00 a share for Australia's Felix Resources Ltd. (FLX.AU), the Australian Financial Review reports Tuesday.
Without citing its sources, the newspaper's Street Talk column says the offer - revealed last week - was presumably before the market falls started to accelerate, with any deal likely to fall between A$15.00 and A$20.00.
The newspaper also said ABN AMRO is acting on behalf of Yanzhou as it completes due diligence of Felix's Hunter Valley and Queensland assets in Australia.
Newspaper Web site: http://www.afr.com
FLX Price at posting:
$7.95 Sentiment: None Disclosure: Not Held
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