Major coal company merger announced

West Virginia
Alpha Natural Resources_1509985832904-794306118.jpg

An amended agreement to merge Alpha Natural Resources and Contura Energy was announced on Thursday, Sept. 27, 2018.  The initial agreement between the companies was made in April.  The two coal companies have operations in West Virginia, Virginia and Pennsylvania.  

The merger was unanimously approved by the boards of directors for both companies.  It is expected to be finalized in the fourth quarter of 2018.  It must sill be approved by Alpha stockholders and satisfy other customary conditions.

As a part of the agreement between the two companies, Alpha stockholders will receive shares in Contura stock for each share of Class C-1 stock they hold with Alpha.  There will also be a special cash dividend issued.  That amount is $2.725 per share of Class C-1  and common stock they hold.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download the FREE WOWK 13 News App

Washington DC Bureau

More Washington DC Bureau

Don't Miss

Trending Stories