Western Coal Shareholders Approve Plan of Arrangement with Walter Energy

Western Coal Corp. (TSX:WTN,AIM:WTN) announced that its shareholders are in favor of Western being acquired by Walter Energy (NYSE:WLT).

The press release is quoted as saying:

Under the terms of the arrangement, Walter will indirectly acquire each outstanding Western common share not already owned by it in exchange for either CDN$11.50 in cash or 0.114 of a Walter common share, subject to pro-ration as described in Western’s management proxy circular dated February 2, 2011.

To read the full press release, click here.