George Eady's questions to PEABODY ENERGY (BTU) leadership • Q2 2025
Question
George Eady of UBS asked about the potential financial liability for Peabody if it terminates the Anglo American deal under the Material Adverse Change (MAC) clause and is later found liable. He also inquired about the timing for a potential sell-down of the Centurion mine and whether any sale contract might include clauses related to production hurdles.
Answer
President and CEO Jim Grech expressed high confidence in the company's MAC position, stating they would not set aside a reserve for a hypothetical negative arbitration ruling and that the shareholder return program would not change. Regarding Centurion, Mr. Grech clarified that a sell-down is a possibility, not a commitment, and declined to comment on potential terms or a specific timeline, noting there is no hurry to make a decision.