Peabody’s (BTU) management sure knows how to screw with shareholder opportunity and value. The latest from the rumor mill is they’re eyeing a merger with Coronado (CRN.AX). This is reported from The Australian, and is cited as speculation but then goes on to name the advisors at the bottom of the article. This makes me believe a potential deal has progressed beyond mere speculation.
Apparently Coronado’s private equity majority owner, Energy and Minerals Group, is looking for an exit. And this merger would also provide Elliott Management, BTU’s private equity majority owner, a way to “take some money off the table.”
You can read the article in full linked here and below. If you need help bypassing the paywall please refer to the Resources page for instructions.
Recent Posts___________________________________________________________________
Coal News & Price Data – September 26, 2023 – Sev.en Acquires 51% of Coronado
Coal News & Price Data – September 25, 2023 – Met Mine Fire in Guizhou Province Claims 16 Lives
Coal News & Price Data – September 22, 2023 – India to Burn 40% More Coal
Coal News & Price Data – September 21, 2023 – Chevron Foresees Prolonged LNG Deadlock
