U.S. Regulators Move to Block Top Coal Miners From Teaming Up

U.S. regulators are moving to block a proposed joint venture between coal giants Peabody Energy Corp. and Arch Coal Inc., saying it would eliminate competition in the largest U.S. basin.

The Federal Trade Commission filed a complaint in its in-house administrative court and will seek a restraining order to block the companies from combining their operations in the Powder River Basin region, according to a statement Wednesday. Peabody and Arch saidthey will challenge the decision.

The two biggest U.S. coal producers in June proposedcombining their operations in Wyoming and Colorado, seeking to cut costs as the industry ...