The Federal Trade Commission (FTC) on Wednesday filed an administrative complaint challenging a proposed joint venture (JV) between the two largest coal-mining companies in the US, on concerns that the transaction will eliminate competition.
Through the transaction, announced in June 2019, Peabody Energy and Arch Coal plan combine their mining operations in the Southern Powder River Basin (SPRB), located in north-eastern Wyoming.
The companies are two major competitors, having produced more than 60% of all SPRB coal mined in 2018.