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

Peabody Energy, a global pure-play coal company, agreed to acquire the steelmaking coal business of Anglo American, a British multinational mining company, for $3.8bn. "This transformative transaction presents a rare opportunity for Peabody to acquire premier steelmaking coal assets at a compelling valuation as we reweight our portfolio toward seaborne metallurgical coal. The transaction is strategically aligned, immediately accretive and highly synergistic, positioning us to better serve the best metallurgical coal demand centers in the world. This transaction gives us a strong foundation to position the company for long-term success," Jim Grech, Peabody President and CEO.