Energy
Coal Miner Arch Resources Is Said in Talks to Merge With Consol
- Companies would have combined market cap of $5 billion
- Arch, Consol could announce deal as early as this week
Arch Resources and Consol are among the biggest US coal miners, an industry facing grim long-term prospects as the shift to cleaner fuels progresses.
Photographer: Luke Sharrett/Bloomberg
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Arch Resources Inc. is nearing an agreement to merge with Consol Energy Inc. in a combination that would create a $5 billion coal mining company, according to people familiar with the matter.
An agreement could be announced as soon as this week, said the people, who asked not to be identified because the discussions are private. A deal hasn’t been finalized and talks could still fall apart, they added.