W. Canadian Coal mulls more buys

Dec 31, 2008 | 11:13 AM | Mick Bowen

Western Canadian Coal Corp. could use a planned takeover of shareholder Cambrian Mining Plc as a springboard for additional acquisitions in the metallurgical and steam coal sector, according to David Jan, the company's manager of investor relations and corporate development.

Western Canadian Coal last week announced plans to acquire London-based Cambrian Mining in a deal valued at £28.8 million ($42.2 million), moving it into the thermal coal segment. Western Canadian Coal hopes to hammer out a definitive merger agreement by January 2009 before presenting it to shareholders for a vote. Pending shareholder approval and other legal matters, the deal is unlikely to close before April or May next year, Jan said.....

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