Tinkler Group has announced it has pulled out of its $5.3 billion takeover bid for Whitehaven coal, ending a month of speculation over the future of the company.

 

Whitehaven announced the proposed $5.20 cash per share bid would not proceed following the end of the due diligence period, which expired late last week.

  

The Whitehaven board announced that it will remain focussed on developing the company’s portfolio of coal assets, while it would also carefully consider any future proposals that would be in the best interest of shareholders.