Coronado confirms Peabody talks
PERTH (miningweekly.com) – ASX-listed Coronado Global Resources on Wednesday confirmed merger talks with US energy major Peabody Energy Corporation.
The confirmation followed a report by The Australian, which said that merger discussions were under way in New York.
Coronado confirmed to shareholders that it was in confidential discussions with Peabody regarding a potential "combination transaction", however, the company noted that as no transaction had been agreed and the discussions were ongoing, Coronado was not yet in a position to provide further details.
“There is no certainty that the discussions will lead to a transaction. Coronado will keep the market informed in accordance with its continuous disclosure obligations,” the company said.
Coronado in May this year also engaged in merger talks with NYSE-listed Arch Resources, a metallurgical coal miner operating four mines in the US, however, these discussions did not amount to a transaction.
Coronado owns the Curragh mine complex, in Queensland, as well as two operating and one idled mine in Virginia and West Virginia.
Peabody Energy, for its part, owns a number of coal assets in both Australia and the US.
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