Arch Coal (ACI) - Get Report plans a buyback of as many as 14 million shares.

The St. Louis-based coal company had 143.5 common shares outstanding as of Sept. 15.

"The long-term outlook for the U.S. coal sector continues to strengthen, and we believe that Arch's extensive reserve base, highly productive operations and skilled workforce position the company for future success," said CEO Steven F. Leer. "As a result, Arch's board and management consider the company's stock to be an attractive investment option, and we view share repurchase as an effective way to create value for shareholders."