Contura Energy Inc., along with ANR Inc. and Alpha Natural Resources Holdings Inc. announced the companies have entered into an amended and restated merger agreement, which provides an increase in merger consideration to Alpha stockholders and the payment of a special dividend by Alpha. The transaction is expected to close in the fourth quarter of 2018, subject to Alpha stockholder approval and the satisfaction of other customary conditions.
Alpha stockholders will receive 0.4417 Contura common shares for each ANR Inc. Class C-1 share and each share of common stock of Alpha Natural Resources Holdings Inc. they own, representing approximately 48.5% ownership in the merged entity. Prior to the closing of the transaction, Alpha stockholders will also receive a special cash dividend in an amount equal to $2.725 for each Class C-1 share and each share of common stock of Alpha Natural Resources Holdings Inc. they own.
Stockholders of Alpha, who collectively hold approximately 38% of the shares of common stock of Alpha Natural Resources Holdings Inc. and approximately 35% of the shares of ANR Inc. Class C-1 common stock have entered into voting and support agreements, where stockholders have agreed to vote their shares in favor of the transaction, subject to the terms and conditions of the voting and support agreements.
