Following media reports speculating on rumors of a deal, Coronado Global Resources confirmed it is indeed in talks with Peabody Energy regarding a potential transaction.
Brisbane, Australia-headquartered Coronado entered a statement with the Australian Stock Exchange (ASX) indicating “confidential discussions…regarding a potential combination transaction” are ongoing.
“However, as no transaction has been agreed and the discussions are ongoing, Coronado is not yet in a position to provide further details. There is no certainty that the discussions will lead to a transaction,” it added.
Peabody has not yet released a public statement. A Financial Review report said the transaction could be worth $9.2 billion.
Coronado said it plans to keep the market informed in accordance with its continuous disclosure obligations.