Australian miner will seek Baker & McKenzie
New Hope, an Australian coal mine operator, would consider takeover offers submitted via a formal auction. Baker & McKenzie will advise the firm on the bidding and appraisal process. The bidding route is likely to be held over several months and will not essentially result in a proposal from the company's board. Aussie miner has been seeking Baker McKenzie's advised on a number of transactions in the past; including the sales of its New Saraji coal mines in Queensland for $2.45 billion in 2008. In 2005, Baker advised New Hope to sell its Indonesian coal assets for nearly $400 million.