Arch Coal (ACI) Receives Request for Additional Information Regarding the Jacobs Ranch Transaction
Arch Coal, Inc. (NYSE: ACI) announced that it had received a request for additional information from the FTC in connection with its planned acquisition of the Jacobs Ranch mine from Rio Tinto. The effect of the Second Request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") until 30 days after Arch Coal and Rio Tinto have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.
"We believe the Jacobs Ranch acquisition is pro-competitive, and we are confident that it will create substantial value for customers and shareholders alike once completed," said Steven F. Leer, Arch's chairman and chief executive officer.
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