Key Coronado shareholder doesn’t want Peabody’s shares
31 Oct 2022
Washington| One of the
largest retail shareholders in ASX-listed coal producer Coronado Global
Resources says any takeover deal by US giant Peabody using scrip instead of
cash would be unappealing because it leaves investors with too much exposure to
thermal coal.
The
comments from Queensland farmer and philanthropist Lyn Brazil, who owns about
$5.5 million in Coronado stock, come as Coronado is due to update investors on
Monday on the status of discussions with the US miner, which it revealed this month.