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
They could have bought this instead of Anglo assets?
US Coal Miner Consol to Buy Arch Resources for $2.3 Billion
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$6.06 |
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-0.090(1.46%) |
Mkt cap ! $8.001B | |||
| Open | High | Low | Value | Volume |
| $6.14 | $6.17 | $5.98 | $14.56M | 2.406M |
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| 1 | 1572 | $6.05 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.07 | 9489 | 3 |
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