St. Louis, Missouri-based Arch Coal announced Wednesday that it has completed the acquisition of International Coal Group, Inc. (ICG), through a merger, with ICG becoming a wholly-owned subsidiary of Arch Coal.
Arch Coal announced May 2 plans to acquire ICG.
"We are pleased with the swift and successful completion of the ICG transaction, which will add tremendous value for Arch's stakeholders in the coming years," said Steven F. Leer, Arch's chairman and chief executive officer. "This acquisition extends Arch's reach into every major US coal supply basin, enhances our low-cost and leadership position in core operating regions and creates a world-class global thermal and metallurgical coal franchise poised for growth."