Peabody walks away from its $3.8bn purchase of Anglo’s coal mines

Peabody terminated the deal, arguing that the fire at Moranbah North was a material adverse change. Anglo American disputed that reading and said it would start arbitration to claim damages.

Why it matters. The material adverse change clause decides who bears the risk of a disaster between signing and closing.

Source

MINING.COM

In the course

Module 9: The M&A process