Walter Energy Shares Surge on Takeover Rumor

Shares of Walter Energy (NYSE: WLT) surged higher on a report from Australian radio that Xstrata (XSRAF) was considering a bid of $47 per share for the Birmingham, AL coal producer.

A spokesperson for Walter Energy told Benzinga he was not aware of the offer and had no news to report. A spokesperson for Xstrata later denied the company had an interest in acquiring Walter Energy.

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