Arch Resources and Consol Energy To Merge, Create $5.2B Coal Producer

Group 1 - Arch Resources and Consol Energy are merging in an all-stock deal to form Core Natural Resources, expected to close in early 2025 [1][2] - The combined entity will operate 11 mines and have an export capacity of approximately 25 million tonnes per annum (Mtpa) [1] - Core Natural Resources will have a market capitalization of about $5.2 billion if realized today [1] Group 2 - The merger is projected to generate annual cost and operational synergies between $110 million and $140 million [2] - The assets of both companies are described as highly complementary, enhancing diversification across coal types, end uses, and geographies [2] - Following the announcement, shares of Consol increased by 3.8% to $98.35, while Arch's shares rose by 1.8% to $129.06 [2]