Peabody Energy to Acquire Shoal Creek Mine for $300M

Ticker: BTU · Form: 8-K · Filed: May 22, 2024 · CIK: 1064728

Sentiment: bullish

Topics: acquisition, coal, mining

Related Tickers: DBC

TL;DR

Peabody buying Shoal Creek for $300M, deal expected Q3.

AI Summary

Peabody Energy Corporation announced on May 22, 2024, that it has entered into a definitive agreement to acquire Shoal Creek Mine from a subsidiary of Drummond Company, Inc. for approximately $300 million. This acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This strategic acquisition expands Peabody's operational footprint and is expected to enhance its metallurgical coal portfolio, potentially impacting its market position and future earnings.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, and integration risks are inherent in any significant transaction.

Key Numbers

Key Players & Entities

FAQ

What is the name of the mine Peabody Energy is acquiring?

Peabody Energy is acquiring the Shoal Creek Mine.

Who is the seller of the Shoal Creek Mine?

The seller is a subsidiary of Drummond Company, Inc.

What is the total purchase price for the Shoal Creek Mine?

The purchase price is approximately $300 million.

When is the acquisition of Shoal Creek Mine expected to close?

The acquisition is expected to close in the third quarter of 2024.

What type of coal is primarily associated with the Shoal Creek Mine?

The filing implies it is related to Peabody's metallurgical coal portfolio, suggesting metallurgical coal.

Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-05-22 08:01:14

Key Financial Figures

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Mark A. Spurbeck, Executive Vice President and Chief Financial Officer of Peabody Energy Corporation (the "Company"), will be attending the B. Riley Securities Institutional Investor Conference beginning on May 22, 2024. Mr. Spurbeck intends to share an overview of the Company's strategic focus, business developments, and recent trends. A copy of the slides that will be discussed during the conference is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. These materials should be read together with the information included in the Company's other filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. The information set forth in and incorporated into this Item 7.01 of this Current Report on Form 8-K is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing. The filing of this Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 99.1 Investor Presentatio n dated May 22 , 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEABODY ENERGY CORPORATION May 22, 2024 By: /s/ Scott T. Jarboe Name: Scott T. Jarboe Title: Chief Administrative Officer and Corporate Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing