{"id":507384,"date":"2022-11-07T03:49:00","date_gmt":"2022-11-07T00:49:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-jones-newswires-peabody-australias-coronado-end-talks-over-potential-merger\/"},"modified":"2022-11-07T03:49:00","modified_gmt":"2022-11-07T00:49:00","slug":"dow-jones-newswires-peabody-australias-coronado-end-talks-over-potential-merger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-peabody-australias-coronado-end-talks-over-potential-merger\/","title":{"rendered":"#Dow Jones Newswires: Peabody, Australia\u2019s Coronado end talks over potential merger"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41ca9df3b5d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41ca9df3b5d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-peabody-australias-coronado-end-talks-over-potential-merger\/#%E2%80%9CDow_Jones_Newswires_Peabody_Australias_Coronado_end_talks_over_potential_merger%E2%80%9D\" >&#8220;Dow Jones Newswires: Peabody, Australia\u2019s Coronado end talks over potential merger&#8221;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-peabody-australias-coronado-end-talks-over-potential-merger\/#Stuart_Condie\" >Stuart Condie<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDow_Jones_Newswires_Peabody_Australias_Coronado_end_talks_over_potential_merger%E2%80%9D\"><\/span>&#8220;Dow Jones Newswires: Peabody, Australia\u2019s Coronado end talks over potential merger&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20221106-701286\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       SYDNEY \u2014 Coronado Global Resources Inc. and Peabody Energy Corp. mutually agreed to end talks over combining to create a new global coal giant.<\/p>\n<p> Australia-listed Coronado<br \/>\n        CRN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208972760\/delayed\" class=\"negative\">-7.27%<\/bg-quote><span>,<\/span><br \/>\n       which also has operations in the U.S., and Peabody<br \/>\n        BTU,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203600175\/composite\" class=\"positive\">+13.21%<\/bg-quote><br \/>\n       on Monday both said they had ended discussions over a combination that would have created a company worth about $6 billion.<\/p>\n<div class=\"paywall\">\n       Neither company gave a reason for the failure of the talks. Coronado announced the development in a filing to the Australian Securities Exchange. Peabody, the largest U.S. coal producer, confirmed in an emailed statement. Neither Peabody nor Coronado had disclosed terms of any potential merger.<\/p>\n<p>The mooted tie-up had been seen as an indicator of how the coal-price surge that followed Russia\u2019s invasion of Ukraine is transforming the sector\u2019s fortunes. However, Newcastle coal futures, the main Asian benchmark, have declined about 15% since Coronado\u2019s Oct. 12 filing to the Australian Securities Exchange confirming merger talks.<\/p>\n<p>At around $350 a metric ton, Newcastle coal futures are still more than double their level at the beginning of the year, according to FactSet.<\/p>\n<p>Peabody last week reported third-quarter net income of $375.1 million for the three months through September, compared with a $44.2 million loss a year earlier.<\/p>\n<p>\u201cCoal prices remain at levels that result in a favorable outlook for each of our operating segments,\u201d Peabody President and Chief Executive Officer Jim Grech said on Nov. 3.<\/p>\n<p>As recently as two years ago, Peabody was warning that it might enter bankruptcy protection for a second time, given weakness in coal markets after the Covid-19 pandemic led to a sharp drop in power demand as factories closed or reduced output. Thermal coal is used to generate electricity, but is considered among the dirtiest fossil fuels because it produces higher quantities of carbon dioxide when it is burned.<\/p>\n<p>However, the war in Ukraine has stoked concerns about energy security and led European countries to try to wean themselves off Russian coal while also seeking alternative supplies of fuel including natural gas. Global coal prices have risen to record highs in response, with European coal buyers looking as far afield as Australia for supplies.<\/p>\n<p>Elevated coal prices supported Coronado\u2019s move last month to declare a $225-million third-quarter special dividend. It also said it would buy $200 million in senior secured notes, citing record year-to-date fiscal results and strong liquidity. On Monday, it said that it will continue to implement its capital-management plans.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Peabody, which has Elliott Management Corp. as its biggest shareholder, runs thermal-coal mines in Wyoming, Indiana and several other U.S. states. It also has mines in Australia that export metallurgical and thermal coal. Metallurgical coal is used to produce steel.<\/p>\n<p>Shares in Coronado were down more than 8% after about two hours of trade on Monday, making them the worst-performing component of the benchmark S&amp;P\/ASX 200 index<br \/>\n        XJO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598100\/delayed\" class=\"positive\">+0.30%<\/bg-quote><span>.<\/span><br \/>\n       They are still up more than 80% so far this year.<\/p>\n<p>It is the second time in 2022 that Coronado has held fruitless talks with a U.S. coal mining company. In May it disclosed discussions with Arch Resources Inc.<br \/>\n        ARCH,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203542275\/composite\" class=\"positive\">+4.32%<\/bg-quote><span>,<\/span><br \/>\n       but it wasn\u2019t able to reach an agreement.<\/p>\n<p>Coronado owns the Buchanan mine in Virginia and the Logan mine in West Virginia, as well as the idled Greenbrier operation, which is also in West Virginia. The company also owns the Curragh mine in Australia\u2019s Queensland state.<\/p>\n<\/p>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Stuart Condie\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Stuart_Condie\"><\/span>Stuart Condie<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C0C4D5-7425-4434-F126-417E1C3E68C9%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Dow Jones Newswires: Peabody, Australia\u2019s Coronado end talks over potential merger&#8221; SYDNEY \u2014 Coronado Global Resources Inc. and Peabody Energy Corp. mutually agreed to end talks over combining to create a new global coal giant. Australia-listed Coronado CRN, -7.27%, which also has operations in the U.S., and Peabody BTU, +13.21% on Monday both said they&#8230;<\/p>\n","protected":false},"author":1,"featured_media":507385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/mw3.wsj.net\/mw5\/content\/logos\/mw_logo_social.png","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-507384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=507384"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/507385"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=507384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=507384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=507384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}