Aston Resources Limited (ASX:AZT) has released details of its proposed $5.1 billion merger with
Whitehaven Coal Limited (ASX:WHC).
It is reported that the deal is expected to extract up to $775 million in synergies.
Shareholders will vote on the transaction on the April 16, 2012.
Aston says the contract will create cost savings through infrastructure.
Aston directors have unanimously recommended the deal.
In the first half on the 2012 financial year Aston Resources recorded a net loss of $22 million.
