0031 GMT - Peabody could abandon or renegotiate a deal to buy Anglo American's steelmaking coal operations if a fire at one of the mines it is buying is deemed a "material adverse change" under their agreement, Jefferies analyst Christopher LaFemina says in a note. "If it does indeed qualify, it is possible that Peabody could walk away or the two parties could revise the terms of the transaction," says LaFemina. This is a positive for Peabody, and a negative for Anglo American, which could possibly face a new takeover bid from rival BHP if the deal falls apart, he says. "In light of current market conditions and the uncertain market outlook, the consensus view is that Peabody would be best off if it could walk as the risks and the implied valuation are too high," says LaFemina. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 09, 2025 20:31 ET (00:31 GMT)
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