BTU - Peabody Energy plunges after judge blocks Arch Coal JV

Peabody Energy ([[BTU]] -11.9%) sinks as much as 16% after a judge blocked a proposed joint venture with Arch Coal ([[ARCH]] -4.6%), Bloomberg reports, after the Federal Trade Commission challenged the deal in February.The judge reportedly granted a preliminary injunction for the FTC's motion, restraining the companies from completing the JV effecting the combination of mining assets in Wyoming and Colorado until the completion of the administrative proceedings evaluating the proposed transaction now pending before the FTC.

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Peabody Energy plunges after judge blocks Arch Coal JV