Australian media reported that Thailand's top coal miner, Banpu Pcl , is set to make a takeover offer worth about AUD 375 million for Mongolia focused coal explorer Hunnu Coal ,

Hunnu sought a trading halt on its shares last Friday ahead of making what it called a potentially significant corporate transaction on or before Tuesday.

Banpu already owns 12.4% of Hunnu, eyeing the Australia based company for its mining licence on the Tsant Uul coal project in Mongolia and stakes in two other Mongolian projects, Altai Nuurs and Unst Khudag.

The friendly move on Hunnu follows Banpu's AUD 2.5 billion takeover of Australian coal miner Centennial Coal last year, similarly executed after buying a minority stake.

(Sourced from Reuters)