Bell Rock fires up as Whitehaven eyes bid for BHP coal mines
UK hedge fund Bell Rock is preparing to escalate its campaign against Whitehaven Coal over its interest in acquiring BHP's coal mines.
UK hedge fund Bell Rock will escalate its campaign against Whitehaven Coal over its interest in acquiring BHP's coal mines, as private credit fund Alpha Wave Global lines up to finance a winning bid.
Whitehaven put long-running market speculation to bed on Monday by confirming in an ASX statement that it was readying a bid for BHP's Daunia and Blackwater mines. Bell Rock, which holds a stake of just under 5% in Whitehaven, has been aggressively campaigning against such a move.
The London based firm has already engaged polling firm ERMS to survey shareholders about whether they would support a bid — a move that prompted Whitehaven to caution investors against participating.
Now Bell Rock is preparing to force Whitehaven to get approval from its shareholders should it emerge from the process as the winning bidder, sources familiar with the matter, who spoke on the condition of anonymity, have told Capital Brief.
