Australia's Whitehaven Coal said it has selected a short list of bidders to complete due diligence as it moves forward with plans to sell itself in a deal potentially worth over $3.5 billion. Whitehaven, which launched a formal process to find a buyer in October, said on Monday it had received a number of non-binding bids and short listed suitors would now conduct due diligence. "The formal process is expected to continue for a number of months and may or may not result in a final proposal being made and recommended by the board," Whitehaven said in a statement.
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