09:49 AM EST - Western Coal Corp. : announced today that it has entered into an exclusivity agreement with, and received a proposal regarding a strategic business combination from Walter Energy, Inc. a leading U.S. producer and exporter of hard coking coal for the global steel industry. If concluded, the Combination proposal contemplates a plan of arrangement transaction whereby Western shareholders would receive a mixture of cash and Walter shares valued at $11.50 per Western share. The proposed value represents a premium of 55.8% to Western's closing price yesterday of $7.38 on the Toronto Stock Exchange. Western Coal Corp.
shares T.WTN are trading up $3.58 at $10.96.
