Richmond partners help coal giant Massey in sale
Troutman Sanders involvement with the sale of coal mine operator Massey Energy to Alpha Natural Resources made news on January 29 in The New York Times, as well as mentions in January Bloomberg, Financial Deals Tracker, 4-traders and Business Wire publications.
On January 29, Massey Energy agreed to sell itself for approximately $7.1 billion in cash and stock to Alpha. The deal will unite two of the biggest American producers of coal, with more than 110 mines and about five billion tons of combined reserves throughout the Appalachian region, the Midwest and Wyoming.
Alpha Natural will own 54 percent of the company, and Richmond, Virginia-based Massey will own the remaining 46 percent.
Securities and Corporate Governance practice group leader and Richmond partner David Carter, and Richmond partners Mason Bayler, Coby Beck, David Meyers and Wally Starke advised Massey during the sale.