Reuters lands scoop on Whitehaven`s faltering $3.7 billion sale plan

Reuters scooped all other media with details of the bidding process for Australian coal miner Whitehaven Coal . After a deadline for indicative offers closed on Feb. 2, Reuters tapped sources for details of the interested parties, highlighting not only that there were interested Chinese, Indian and Korean bidders but also that the process was not going as well as Whitehaven had hoped, with several key bidders including Chinas Yanzhou Coal Mining Co dropping out. The story, which also highlighted that Whitehaven hoped to fetch $3.7 billion from the sale and some bidders had baulked at the valuation, was unmatched by rival news agencies and followed up by local media. Two highly-respected columnists in Australias leading business newspapers picked up the Reuters story. Whitehaven shares fell almost 1 percent when trade resumed the following day.