In a deal that industry watchers say should trigger further consolidation in the coal industry, Tampa, Fla.-based Walter Energy Inc., a maker of coal for the steel industry, has offered to buy Vancouver, British Columbia-based Western Coal Corp. for $3.2 billion.
The deal is unusual, lawyers on the matter say, because of its sequencing. Rather than announcing an acquisition outright, the two companies announced an agreement to negotiate towards one. The nonbinding agreement states that they will talk exclusively with each other for 14 days with the intention of signing a deal at the end of that period.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]