Walter Energy stock jumps on BHP bid rumors

Oct 17, 2011 | 01:54 PM | Lisa Gordon

Tags  metallurgical coal, Walter Energy, BHP Billiton, Vale, Rio Tinto, ArcelorMittal, U.S. Steel, Lisa Gordon

PITTSBURGH — Speculation that BHP Billiton Ltd. plans to make a run for Birmingham, Ala.-based Walter Energy Inc. has driven up the coke maker’s share price by more than 26 percent in two weeks.

Australia-based BHP may offer $6 billion to pick up the metallurgical coke producer and exporter, Dahlman Rose & Co. managing director Anthony Rizzuto Jr. wrote in a recent research note.

Walter’s shares ended Monday at $71.98 per share on the New York Stock Exchange, up 26.5 percent from $56.90 at the beginning of the month.....

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