Case Studies

M&A Due Diligence Engagement

M&A Due Diligence Engagement

Western Coal Corporation retained Norwest to conduct due diligence regarding Western Coal’s cash/share transaction to combine with Walter Energy Inc. Norwest’s scope of work included conducting due diligence on Walter Energy’s operations including two underground longwall mines, certain surface operations, a coke oven facility, and associated coal processing, storage, handling, and shipping facilities. In addition, Walter Energy’s coalbed methane operations were also evaluated. A multi-disciplinary team of Norwest professionals conducted site visits of the major assets, confirmed resource and economic reserve representations, and completed an independent ‘fatal flaw’ analyses of Walter Energy’s mining and gas operations, cost projections, capital requirements and permitting, bonding and environmental liabilities. This work supported the proposed merger which is currently pending closing.