Simpson Reps Walter Energy In $3B Bid For Coal Co.

Law360, New York (November 19, 2010, 1:09 PM EST) -- U.S. coal producer Walter Energy Inc. has submitted a CA$3.3 billion ($3.2 billion) bid to acquire Canada's Western Coal Corp., in a proposal aimed at capitalizing on expected growth in the global metallurgical coal markets.

Under the proposal announced by Walter Energy Thursday, the company would acquire the outstanding common shares of Western Coal for CA$11.50 per share in cash and company stock. The two companies have signed an exclusivity agreement, consenting to work exclusively with each other for up to 14 days in an effort...
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