Reported about 5 hours ago
Anglo American Plc has agreed to sell its steelmaking coal business to Peabody Energy Corp. for up to $3.78 billion, as part of its restructuring efforts. The sale, which comes after a failed $49 billion bid from BHP Group, is aimed at simplifying Anglo's operations and allowing Peabody to significantly increase its metallurgical coal production. Anglo will receive $2.05 billion in cash upfront and could earn additional payments based on coal prices and the reopening of its Grosvenor mine.
Source: YAHOO