Why it matters: Whitehaven’s purchase of the two mines would transform the group
Bell Rock is pushing for the company to return more money to shareholders
BHP is divesting the mines citing higher taxes and interest in other commodities
The investor pushing to stop Whitehaven Coal’s acquisition of two major BHP mines in a multibillion-dollar deal is secretive London hedge fund Bell Rock Capital Management, The Australian Financial Review can reveal.
The Daunia and Blackwater mines in Queensland – expected to receive bids of between $US3.5 billion ($5.4 billion) and $US5 billion – were put up for sale by BHP and its joint venture partner, Japan’s Mitsubishi, in February.
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
