Peabody Energy Corp. is suing Bowie Resource Holdings LLC over the collapse of its $358 million offer to acquire Peabody’s Colorado and New Mexico mines, which preceded Peabody’s bankruptcy filing, the Wall Street Journal reported today. The lawsuit, filed on Wednesday, seeks to collect a $20 million termination fee from Bowie, plus interest, costs and expenses, court papers show. According to Peabody, the deal fell apart when Bowie failed to line up financing for the cash purchase price. It says Bowie — a unit of Louisville, Ky.-based coal mining company Bowie Resource Partners LLC — has so far refused to pay the termination fee that was negotiated in connection with the sale.
