Peabody and arch announce intent to continue pursuit of highly synergistic joint venture

Peabody and arch announce intent to continue pursuit of highly synergistic joint venture to create value for customers and shareholders.peabody - announcement follows split decision by u.s. ftc that advances process to legal system.peabody - proposed jv promises to enhance cost-competitiveness of thermal operations.peabody - peabody & arch intend to litigate ftc's decision within u.s. federal court system over coming months.peabody - ownership of jv would be structured with peabody owning 66.5 percent and arch owning 33.5 percent.peabody - if consummated, jv is expected to realize annual synergies of $120 million over an initial 10-year period.peabody - transaction includes seven of companies' mines.peabody - additional assets in deal include caballo, rawhide and coal creek mines in wyoming along with west elk and twentymile mines in colorado.
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