The Federal Trade Commission asked a federal court to delay a June hearing on its bid to block a joint venture between Peabody Energy and Arch Coal, saying the coronavirus pandemic has halted the agency’s preparations.
“The ongoing COVID-19 national emergency makes it impracticable for FTC staff” to prepare and participate in this case, the FTC said Monday in a court filing.
Antitrust enforcers at the FTC sued Peabody and Arch Coal in February, saying the proposed combination of coal mining operations in the Powder River Basin region of Wyoming would eliminate competition in that area.
The Federal Trade Commission had filed an administrative complaint challenging a proposed joint venture between Peabody Energy Corporation and Arch Coal. The transaction would combine their coal mining operations in the Southern Powder River Basin, located in northeastern Wyoming.
The complaint alleges that the transaction will eliminate competition between Peabody and Arch Coal, which are the two major competitors in the market for thermal coal in the Southern Powder River Basin, or SPRB, and the two largest coal-mining companies in the United States.
Full Content: Bloomberg
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