Arch coal completes acquisition of international coal Group
Arch Coal, Inc. announced today that it has completed its acquisition of International Coal Group, Inc. through a merger, with ICG becoming a wholly owned subsidiary of Arch. Prior to the merger, Arch acquired approximately 92 percent of ICG's outstanding shares of common stock in connection with its previously disclosed tender offer.
Arch Coal Inc., parent company of Utah's largest coal operator, said Tuesday it lost $70 million in the first quarter of 2013 as a sluggish global market lowered production.