CONSOL Energy Inc. (NYSE: CNX), a producer of natural gas and coal, announced Monday that the pending sale of five West Virginia longwall coal mines with Murray Energy Corp., has received HSR clearance.
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired in connection with a previously announced sale of its Consolidation Coal Company subsidiary, which contains all five of its longwall coal mines in West Virginia, to a subsidiary of Murray Energy Corporation for $3.5 billion in value.
CONSOL Energy signed a definitive agreement regarding the sale to Murray Energy October 28. The closing of the transaction is subject to various closing conditions, and CONSOL Energy anticipates closing the transaction in the next few weeks.
Read more energy business news