US coal producer Consol Energy Inc. agreed to buy rival Arch Resources Inc. for $2.3 billion as the transition to greener fuels threatens the industry’s long-term outlook. The companies announced the transaction in a statement Wednesday. The deal talks were reported earlier by Bloomberg. Under the terms of the merger agreement, Arch stockholders will receive a fixed exchange ratio of 1.326 shares of Consol stock for each share of Arch common stock. Consol shareholders will own about 55% of the combined company, to be called Core Natural Resources.
https://www.bloomberg.com/news/articles/2024-08-21/us-coal-producer-consol-to-merge-with-rival-arch-resources?srnd=all
US Coal Miner Consol to Buy Arch Resources for $2.3 Billion
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$5.53 |
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Mkt cap ! $4.634B | |||
| Open | High | Low | Value | Volume |
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| 26 | 16060 | $5.52 |
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