Peabody Energy failed to acquire the steelmaking coal business of Anglo American for $3.8bn.

Peabody Energy, a global pure-play coal company, failed to acquire the steelmaking coal business of Anglo American, a British multinational mining company, for $3.8bn. “We are confident in our belief that the event at Moranbah North in March does not constitute a MAC under the sale agreements with Peabody. Our view is supported by the lack of damage to the mine and equipment, as well as the substantial progress made with the regulator, our employees and the unions, and other stakeholders as part of the regulatory process towards a safe restart of the mine. In fact, just in the last week we achieved a further important milestone, with our workforce signing off the risk assessment that underpins the restart strategy. We are therefore very disappointed that Peabody has decided not to complete the transaction," Duncan Wanblad, Anglo American CEO.