Australian coal miner Coronado Global Resources said it had ended talks with U.S.-based Peabody Energy Corp for a potential combination of the two companies, less than a month after confirming the discussions.
Coronado, which had a market capitalisation of A$3.70 billion ($2.38 billion) as of Friday’s close, did not specify why the talks had ceased.
It had confirmed the talks early in October, in response to a local media report, but did not divulge further details.
The firm was also in merger talks with U.S.-based Arch Resources earlier this year, which did not materialise.
Peabody Energy, which has a market capitalisation of $3.88 billion, did not immediately respond to a Reuters request for comment.
Source: Reuters.com