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Walter Energy holds auction to sell mines but receives no competing bids...

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Report summary

Walter Energy held an auction 5 January 2016 in hopes of finding a bid exceeding the offer from its senior lenders. Last fall Walter entered an asset purchase agreement with a company formed by its senior lenders to acquire all of the Walter s US assets for $5.4 M cash a $1.25 billion credit bid and the assumption of some liabilities if a higher offer was not received. As no competitive bids were received this company called Coal Acquisitions is now likely to execute that purchase.

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    Walter Energy holds auction to sell mines but receives no competing bids...

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