Patriot Plans Bankruptcy Exit After Accord With Peabody
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Patriot Coal Corp. and Peabody Energy Corp. reached an agreement that will compensate retired miners for health-care benefits, one of three agreements that will help Patriot exit bankruptcy.
Peabody, the largest U.S. coal producer, will pay $310 million for retirees’ health care under the accord with its former unit and a labor union that represented the retirees.