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Home News Western Coal possible takeover target

Western Coal possible takeover target

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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.

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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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