Western Coal and Walter Energy Receive Investment Canada Act Approval in Connection with Proposed Arrangement
Monday, 28 March 2011 09:14
Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) and Walter Energy, Inc. (NYSE: WLT) announced that the Minister of Industry, under the Investment Canada Act, has approved the proposed acquisition of Western by Walter upon determination that the transaction is of net benefit to Canada.
Completion of the arrangement remains conditional on satisfaction of other customary conditions. Subject to the satisfaction or waiver of all conditions precedent, it is currently anticipated that the arrangement will be completed on or about April 1, 2011.
