Market gossips are speculating a three way battle could be developing for US coal company Walter Energy.
Anglo American, up 33p at 2614.5p has been linked with a possible bid in the past although nothing emerged. But with Walter's shares falling back since then, traders believe Anglo could have revived its interest. In its latest annual report out this week, Anglo's chairman Sir John Parker said:
"We...continue to examine M&A opportunities as one of our strategic priorities in driving value in core commodities."
There was also speculation that BHP Billiton, up 11p at £20.35, and also investment guru Warren Buffett could be taking a look at Walter. The US group's shares are currently up nearly 1% at $61.8, and traders believe any bidder would have to offer more than $100 to win the day.
