Oct. 16, 2014, 4:47 PM
- Westmoreland Coal (NASDAQ:WLB) agrees to acquire Oxford GP, the general partner of Oxford Resource Partners (NYSE:OXF), for at least $30M, and will contribute certain royalty bearing coal reserves to Oxford in return for OXF common units.
- OXF will continue to operate as a stand-alone, publicly-traded MLP, and WLB will own 77% of the fully-diluted limited partner interests in Oxford.
Dec. 24, 2013, 7:37 AM
- Westmoreland Coal (WLB) agrees to acquire coal mining operations from Sherritt International (SHERF) for ~C$465M.
- The operations include seven producing thermal coal mines in Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a char production facility which sells to barbeque briquette producers.
- Sherritt's annual coal output of ~27M tons doubles WLB's production.
- Sherritt also is selling its Canadian coal and potash royalty business to a group led by Altius Minerals for C$481M.
Nov. 30, 2012, 2:15 PM
Walter Energy's (WLT +7.3) refusal to comment on rumors of BHP's interest in an acquisition keeps shares moving higher, perhaps suggesting more than idle chatter. Also, another analyst sees the coal industry improving in 2013. The two developments are propping up the sector (KOL +0.5): JRCC +7.6%, OXF +4.2%, ANR +3.4%, ACI +2%, BTU +0.9%.| Nov. 30, 2012, 2:15 PM | 2 Comments
Dec. 27, 2011, 8:03 AM