CREVE COEUR, Mo. — St. Louis-based coal company Arch Resources Inc. is merging with rival Consol Energy Inc. to create a new company called Core Natural Resources that will keep its headquarters in the Pittsburgh suburb of Canonsburg, Pennsylvania.
The all-stock transaction, what it called "a merger of equals," would be worth $5.2 billion and one of the largest coal companies in the country with large and non-overlapping thermal and met coal.
"We are excited to bring our companies together to create a new industry leader that is ideally positioned to meet the rising demand for critical resources and energy around the world," Consol Energy CEO Jimmy Brock said.
The new company would be headquartered in Canonsburg, the same town where Consol is headquartered. It would continue to have a presence in Arch's headquarters in the St. Louis region. Arch's current offices are at 1 CityPlace Drive in Creve Coeur.
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