Troutman Advises Massey On $960M Cumberland Deal

By Evan Weinberger

Law360, New York (March 17, 2010, 5:14 PM ET) -- Massey Energy Co. has revealed plans to increase its coal reserves by purchasing privately held Cumberland Resources Corp. and affiliated companies for $960 million in cash and stock.

The transaction, announced Tuesday, will see Massey take on 416 million tons of contiguous coal reserves in southwestern Virginia and eastern Kentucky, as well as one preparation plant in each state. The two plants are already served by major railroads, Massey said.

Of the 416 million tons of contiguous coal reserves held by Cumberland, 216 million is believed...
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