US-based Arch Coal has continued the merger mania sweeping coal markets, with a 3.4bn dollars all cash deal to take control of privately-held US rival, IGT, adding around 20m short tons (st) to its annual sales. An Arch statement said the combined group would have annual coal sales of 179mst and would rank as the second largest US metallurgical coal supplier, with potential annual synergies of 70-80m dollars from combined operating and marketing operations.
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