0449 GMT - It seems likely a deal for Peabody to buy Anglo American's steelmaking coal assets will be renegotiated, according to Jefferies analyst Christopher LaFemina. In a note, LaFemina says Anglo appears not to have acknowledged Peabody's material adverse change claim in the 10-day response period. Renegotiation, arbitration, or the deal closing in its initially agreed form are all possible, he says. "We believe a renegotiated deal structure with a greater portion of the deal being deferred could be a win-win scenario, whereas arbitration is a potential lose-lose on a relative basis," says LaFemina. The up-to $3.78 billion deal has come under scrutiny after a recent fire at one of the Australian mines Anglo American intends to sell. Jefferies has buy ratings on both stocks. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

May 21, 2025 00:49 ET (04:49 GMT)

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