Item 1.02 Termination of a Material Definitive Agreement.
As previously disclosed, on September 29, 2020, Peabody Energy Corporation (the
"Company" or "Peabody") announced that the U.S. District Court had concluded its
review and was supporting Federal Trade Commission efforts to block the
formation of a joint venture combining the respective Powder River Basin and
Colorado mining operations of Peabody and Arch Resources, Inc. (f/k/a Arch Coal,
Inc.) ("Arch").
On October 5, 2020, the Company and Arch executed a mutual termination agreement
(the "Termination Agreement"), effective as of September 30, 2020, to terminate
that certain Implementation Agreement, dated June 18, 2019, between Peabody and
Arch (the "Implementation Agreement") to establish the joint venture between
Peabody and Arch. Neither Peabody nor Arch will be required to pay the other a
termination fee as a result of the mutual decision to terminate the
Implementation Agreement.
The foregoing description of the Termination Agreement does not purport to be
complete and is subject to, and qualified in its entirety by, the full text of
the Termination Agreement, a copy of which is attached as Exhibit 10.1 hereto
and incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
10.1 Termination Agreement, dated as of October 5, 2020, between Peabody
Energy Corporation and Arch Resources, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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