Walter Energy to Buy Western Coal for $3.3 Billion

Walter Energy Inc. (WLT), a southern Appalachia producer of coal for making steel, agreed to buy Canadian company Western Coal Corp. (WTN) for C$3.3 billion ($3.3 billion).

Walter Energy made an offer of C$11.50 per share in cash or 0.114 of a Walter Energy share for each share of Western Coal, Bloomberg News reported. The cash price is a 26% premium to the 20-day average price of Western Coal….

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Walter Energy to Buy Western Coal for $3.3 Billion originally appeared on DailyFinance on Fri, 03 Dec 2010 08:41:00.

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