Peabody Notifies Anglo American of Material Adverse Change Impacting Planned Acquisition
PR Newswire
ST. LOUIS, May 5, 2025
ST. LOUIS, May 5, 2025 /PRNewswire/ -- Peabody $(BTU)$ announced today that it has notified Anglo American Plc of a Material Adverse Change $(MAC)$ impacting Peabody's planned acquisition of steelmaking coal assets from Anglo. The MAC relates to issues involving the Moranbah North Mine, which remains inactive following what was described as a gas ignition event on March 31, 2025.
"While we have remained on track to complete the steelmaking coal acquisition from Anglo, the issues at Moranbah North have created significant uncertainty around the transaction," said Peabody President and Chief Executive Officer Jim Grech. "A substantial share of the acquisition value was associated with Moranbah North, yet there is no known timetable for resuming longwall production."
If the MAC is not resolved to Peabody's satisfaction in the limited timeframe specified under the companies' acquisition agreements, Peabody may elect to terminate the agreements.
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.
CONTACT:
Vic Svec
ir@peabodyenergy.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/peabody-notifies-anglo-american-of-material-adverse-change-impacting-planned-acquisition-302445624.html
SOURCE Peabody
(END) Dow Jones Newswires
May 05, 2025 07:55 ET (11:55 GMT)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.