China’s Yankuang Energy said on Tuesday that it was open to negotiations to buy the remaining shares in its majority-owned unit Yancoal Australia, after the Australian coal firm rejected a $1.8-billion offer.
Yankuang, which owns 62.26% of Yancoal‘s shares, said last month that it was considering offering Yancoal shareholders $3.60 per share in convertible bonds for the remaining 498.2 million shares not held by the company, which is a discount to the market price.
