February 26, 2020 / 2:37 PM / a month ago

BRIEF-Peabody And Arch Announce Intent To Continue Pursuit Of Highly Synergistic Joint Venture

Feb 26 (Reuters) - Arch Coal Inc:

* PEABODY AND ARCH ANNOUNCE INTENT TO CONTINUE PURSUIT OF HIGHLY SYNERGISTIC JOINT VENTURE TO CREATE VALUE FOR CUSTOMERS AND SHAREHOLDERS

* PEABODY - ANNOUNCEMENT FOLLOWS SPLIT DECISION BY U.S. FTC THAT ADVANCES PROCESS TO LEGAL SYSTEM

* PEABODY - PROPOSED JV PROMISES TO ENHANCE COST-COMPETITIVENESS OF THERMAL OPERATIONS

* PEABODY - PEABODY & ARCH INTEND TO LITIGATE FTC’S DECISION WITHIN U.S. FEDERAL COURT SYSTEM OVER COMING MONTHS

* PEABODY - OWNERSHIP OF JV WOULD BE STRUCTURED WITH PEABODY OWNING 66.5 PERCENT AND ARCH OWNING 33.5 PERCENT

* PEABODY - IF CONSUMMATED, JV IS EXPECTED TO REALIZE ANNUAL SYNERGIES OF $120 MILLION OVER AN INITIAL 10-YEAR PERIOD

* PEABODY - TRANSACTION INCLUDES SEVEN OF COMPANIES’ MINES

* PEABODY - ADDITIONAL ASSETS IN DEAL INCLUDE CABALLO, RAWHIDE AND COAL CREEK MINES IN WYOMING ALONG WITH WEST ELK AND TWENTYMILE MINES IN COLORADO Source text for Eikon: Further company coverage:

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