Brief: Arch Resources And Consol Energy To Combine In All-Stock Merger

Arch Resources

21/08/2024 12:24

Aug 21 (Reuters) - Arch Resources Inc  ARCH.N :
    * ARCH RESOURCES AND CONSOL ENERGY TO COMBINE IN ALL-STOCK
MERGER
OF EQUALS TO CREATE CORE NATURAL RESOURCES, A PREMIER NORTH
AMERICAN NATURAL RESOURCE COMPANY FOCUSED ON GLOBAL MARKETS
    * CONSOL ENERGY INC - DEAL EXPECTED TO GENERATE $110 MILLION
TO
$140 MILLION OF ANNUAL COST AND OPERATIONAL SYNERGIES
    * CONSOL ENERGY : ARCH STOCKHOLDERS WILL RECEIVE FIXED
EXCHANGE
RATIO OF 1.326 SHARES OF CONSOL COMMON STOCK FOR EACH SHARE OF
ARCH COMMON STOCK OWNED
    * CONSOL ENERGY INC - ARCH STOCKHOLDERS WILL OWN
APPROXIMATELY 45%
OF CORE NATURAL RESOURCES
    * CONSOL ENERGY INC - ARCH AND CONSOL WILL SUSPEND SHARE
REPURCHASES UNTIL TRANSACTION IS COMPLETED
    * CONSOL ENERGY: DEAL EXPECTED TO BE ACCRETIVE TO FREE CASH
FLOW
FOR BOTH ARCH AND CONSOL IN FIRST FULL YEAR FOLLOWING CLOSE

Source text for Eikon:  ID:nPn9YRPjJa 
Further company coverage:  ARCH.N 

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