Canada-based Western Coal acquires Walter Energy for $3.3 billion

Monday, 06 December 2010 02:27:17 (GMT+3)   |  
       

Vancouver, Canada-based metallurgical coal producer Western Coal Corporation announced Friday that it has extended its exclusivity agreement with Walter Energy, Inc for $3.3 billion to add reserves and boost production capacity.

Under the terms of the agreement, which was announced November 18, 2010, both companies are working exclusively with each other toward the negotiation of a definitive agreement to give effect to Walter's proposal for a potential business combination.


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