Westmoreland Coal Company (OTCPK:WLBA.Q) agreed to acquire Westmoreland Resource Partners, LP (OTCPK:WMLP.Q) for $0.01 million on February 12, 2019. The purchase price of $0.01 per common unit, net to the seller in cash, without interest, subject to any applicable withholding taxes. Under the transaction, Westmoreland Coal Company will acquire 1.2 million common units of Westmoreland Resource Partners.

Westmoreland Coal Company will pay approximately $13,000 from cash on hand. The transaction is subject to Bankruptcy court approval. The Offer is not conditioned upon any recommendation by the board of directors of the general partner of Westmoreland Resource Partners or by any committee thereof.

The tender offer is not subject to a financing condition. On February 12, 2019, the Board of WCC approved the offer. On February 13, 2019, WCC commenced the offer.

On February 28, 2019, the Bankruptcy Court entered an order authorizing the consummation of the offer. No further approvals of the Bankruptcy Court are required. The transaction is expected to close on March 13, 2019.