Simpson Thacher Represents Arch Coal in Proposed $3.4 Billion Acquisition of International Coal Group
05.02.11
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Simpson Thacher is representing Arch Coal, Inc. (“Arch”) in connection with its agreement to acquire all of the outstanding shares of International Coal Group, Inc. (“ICG”) for $14.60 per share, in an all-cash transaction valued at $3.4 billion. The transaction is structured as a tender offer to be followed as soon as possible by a merger and is subject to customary closing conditions, including the tender of a majority of ICG shares and regulatory approvals. The transaction is expected to close in the second quarter of 2011.
U.S.-based Arch is one of the world’s largest coal producers, with more than 160 million tons of coal sold in 2010. ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin, with 13 active mining complexes. The combined company will be the second largest U.S. metallurgical coal supplier and a top-five overall global coal producer and marketer.
The Simpson Thacher team includes: Mario Ponce, Rhett Van Syoc and Maura Whelan (M&A); Alvin Brown and Craig Katerberg (Executive Compensation and Employee Benefits); Steve Todrys and Danny Salinas (Tax); Patrick Ryan, Chris Brown and James Doyle (Financing); Meryl Rosen and Marcela Robledo (Intellectual Property).