Chinese, Indian and Korean parties are expected to lodge non-binding offers for Australia's Whitehaven Coal on Wednesday as the coal miner seeks offers of up to $3.7 billion, although several potential suitors have dropped out of the process, sources said. Indicative bids for Whitehaven which put itself up for auction in October, were due this week, the sources said, marking the next stage in a long-running effort by its major shareholders to sell the company. However, sources familiar with the transaction said the target was over-valued and some potential bidders had withdrawn from the process.
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