Great news for WTN shareholders. The question is, to what degree will this positively affect CMK.

WTN news:

The proposal values Western's equity at $3.3 billion,
Western expects to produce 6.1 million tonnes of coal for the fiscal year ending March 31, 2011, growing to 10 million tonnes for fiscal 2013. Walter, based in Tampa, FL, has stated that it expects to produce 6.6 million tonnes of coal in the calendar year 2010, growing to 8.6 million tonnes in the calendar year 2012. The vast majority of production for both companies is metallurgical coal.

Western Coal Enters Into Exclusive Negotiations For Potential Business Combination With Walter Energy

Western Coal Enters Into Exclusive Negotiations For Potential Business Combination With Walter Energy
Western Also Announces Sale of Shares by Audley to Walter
Vancouver, BC, November 18, 2010 - Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) (the "Company" or "Western") announced today that it has entered into an exclusivity agreement with, and received a proposal regarding a strategic business combination (the "Combination") from Walter Energy, Inc. (NYSE: WLT) ("Walter"), a leading US 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. The proposal values Western's equity at $3.3 billion, based on Western's 291.1 million common shares outstanding on a fully diluted basis