The Firm represented the underwriters, led by UBS Securities LLC, in connection with a public offering by Massey Energy Company of 9,775,000 shares (including the full exercise of the over-allotment option) of common stock, resulting in proceeds to the company of approximately $466 million.
Massey Energy Company will use the net proceeds from the offering to fund a portion of the cash consideration payable in connection with its recently announced combined cash and stock acquisition of Cumberland Resources Corporation and certain affiliated companies.
Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the fourth largest coal producer by revenue in the United States.
The Simpson Thacher team for the transaction included John Lobrano, Marisa Stavenas, Maria Rocha Barros and Kuang-Wei Chueh (Capital Markets), Jonathan Cantor and Andrew Purcell (Tax), Adeeb Fadil and Noreen Lavan (Environmental), Beth Understahl (Executive Compensation and Employee Benefits), Julie Levy (Labor), Mardi R. Merjian and Brandon Greer (Real Estate) and Andrew J. Pagliughi and Jennie Getsin (Blue Sky and FINRA). Paralegal Jacqueline Altieri provided valuable assistance.