Arch Coal (ACI.N) will buy smaller peer International Coal Group Inc (ICO.N) for $3.4 billion to create the second-largest U.S. producer of steel-making coal, the companies said on Monday. The deal is the latest in the coal industry and follows Alpha Natural Resources' (ANR.N) $6.6 billion plan to buy Massey Energy (MEE.N) and Walter Energy's (WLT.N) $3.3 billion deal to buy Canada's Western Coal. Arch will pay $14.60 per share of International Coal, a 32 percent premium to the closing stock price on Friday, under the deal, which is expected to close in the second quarter. The news sent International Coal's shares soaring 31.5 percent to $14.50 in premarket trading, while Arch fell 2.3 percent to $33.50.
Arch Coal, Inc. (Arch) is a coal producer company. Shares of ACI traded higher by 0.41% or $0.14/share to $34.44. In the past year, the shares have traded as low as $19.09 and as high as $36.99. On average, 4047010 shares of ACI exchange hands on a given day and today's volume is recorded at 3200128.
International Coal Group, Inc. (ICG) is a producer of coal in Northern and Central Appalachia with a range of mid- to high British thermal unit (Btu), low to medium sulfur steam and metallurgical coal. Shares of ICO traded higher by 30.69% or $3.385/share to $14.415. In the past year, the shares have traded as low as $3.59 and as high as $11.62. On average, 7766850 shares of ICO exchange hands on a given day and today's volume is recorded at 88657592.
Alpha Natural Resources, Inc. (Alpha) is a coal supplier in the United States. Shares of ANR traded higher by 1.38% or $0.8/share to $58.97. In the past year, the shares have traded as low as $32.00 and as high as $68.05. On average, 6822500 shares of ANR exchange hands on a given day and today's volume is recorded at 1357888.
Massey Energy Company (Massey) is a coal producer in the United States. Shares of MEE traded higher by 1.61% or $1.1/share to $69.34. In the past year, the shares have traded as low as $25.85 and as high as $71.19. On average, 4653250 shares of MEE exchange hands on a given day and today's volume is recorded at 527720.
Walter Energy, Inc. is a producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas (natural gas), metallurgical coke and other related products. Shares of WLT traded higher by 1.86% or $2.5695/share to $140.6695. In the past year, the shares have traded as low as $57.62 and as high as $143.76. On average, 2450190 shares of WLT exchange hands on a given day and today's volume is recorded at 751672.
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