UK's biggest coal firm confirms takeover approach

The UK’s biggest coal producer was at the centre of takeover speculation today after it confirmed it had received a “highly preliminary” approach.

UK Coal – the loss-making owner of seven deep mines – received details of the interest “some weeks ago” but said it had heard nothing since then.

The statement from the company, which acquired the former assets of British Coal, was in response to a recent rise in its share price.