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Home News Western Coal possible takeover target

Western Coal possible takeover target

Western Coal Corp. has become a takeover target, significantly raising the company’s shares during Thursday’s trading on the Toronto Stock Exchange.

According to reports from the CBC, Florida-based Walter Energy has said it is considering purchasing Western Coal for more than $3 billion.

The deal could affect the company’s three mines in northeastern B.C., located near Chetwynd and Tumbler Ridge.

If the deal goes through, it is expected the company would solely focus on the production of coal for manufacturing steel.

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