Massive US coal merger to give birth to one of its biggest producers
Alpha Natural Resources and Foundation Coal Holdings have announced a merger plan that will create one of America’s largest coal producers in an all-stock transaction valued at $2 billion. One of the strongest balance sheets and credit profiles in the industry show 2008 pro forma revenues of $4.2 billion. The combined company will be the third-largest coal producer in the US, with 59 coal mines and 14 preparation plants and will have one of the most expansive geographic footprints in the industry, reserves of more than 2,300 Mt. (more…)
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