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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE TO
Tender Offer Statement under Section 14(d)(1) or 13(e)(1) of
the Securities Exchange Act of 1934
(Amendment No. 5)
INTERNATIONAL COAL GROUP, INC.
(Name of Subject Company)
ATLAS ACQUISITION CORP.
ARCH COAL, INC.
(Names of Filing Persons Offeror)
Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)
45928H106
(CUSIP Number of Class of Securities)
Robert G. Jones
Senior Vice President Law, General Counsel & Secretary
Jon S. Ploetz
Assistant General Counsel and Assistant Secretary
One CityPlace Dr., Suite 300
St. Louis, MO 63141
(314) 994-2700
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)
Copies to:
Mario A. Ponce
Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, New York 10017-63954
Telephone: (212) 455-2000
CALCULATION OF FILING FEE
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Transaction Valuation* |
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Amount of Filing Fee** |
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$3,044,605,405.88 |
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$353,478.69 |
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The transaction valuation is an estimate calculated solely for purposes of determining the
amount of the filing fee. The transaction valuation is equal to the sum of (a) an amount
equal to $14.60, the per share tender offer price, multiplied by the sum of (1) 204,175,202,
the number of shares of common stock issued and outstanding (including 1,099,651 shares of
restricted stock and not including 96,914 shares of common stock held in treasury), and (2)
353,927, the number of shares of common stock subject to issued and outstanding restricted
share unit awards, plus (b) an amount equal to 6,315,348, the number of shares of common stock
subject to outstanding stock options with an exercise price less than $14.60, multiplied by
the difference of $14.60 and $5.34, the average weighted exercise price of the outstanding
stock options with exercise prices less than $14.60. The share figures in this transaction
valuation are as of May 12, 2011, the most recent practicable date. |
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The amount of the filing fee is calculated in accordance with Rule 0-11 of the Securities
Exchange Act of 1934, as amended, and Fee Advisory #5 for fiscal year 2011, issued December
22, 2010, by multiplying the transaction valuation by 0.0001161. |
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Check box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the
filing with which the offsetting fee was previously paid. Identify the previous filing by
registration statement number, or the Form or Schedule and the date of its filing. |
Amount Previously Paid: $353,478.69.
Form or Registration No.: Schedule TO.
Filing Party: Arch Coal, Inc. and Atlas Acquisition Corp.
Date Filed: May 16, 2011.
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Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer. |
Check the appropriate boxes below to designate any transactions to which the statement relates:
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third-party tender offer subject to Rule 14d-1. |
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issuer tender offer subject to Rule 13e-4. |
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going-private transaction subject to Rule 13e-3. |
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amendment to Schedule 13D under Rule 13d-2. |
Check the following box if the filing is a final amendment reporting the results of the tender
offer. þ
This Amendment No. 5 (this Amendment) amends and supplements the Tender Offer Statement on
Schedule TO (together with any previous or subsequent amendments and supplements thereto, the
Schedule TO) filed with the Securities and Exchange Commission on May 16, 2011 and is filed by
(i) Atlas Acquisition Corp., a Delaware corporation (Merger Sub) and a wholly owned subsidiary of
Arch Coal, Inc., a Delaware corporation (Arch), and (ii) Arch. The Schedule TO relates to the
offer by Merger Sub to purchase all outstanding shares of common stock, par value $0.01 per share
(the Shares), of International Coal Group, Inc., a Delaware corporation (ICG), at $14.60 per
Share, net to the seller in cash, without interest and less any applicable withholding taxes, upon
the terms and subject to the conditions set forth in the Offer to Purchase, dated May 16, 2011 (the
Offer to Purchase), and in the related Letter of Transmittal (the Letter of Transmittal),
copies of which are included as Exhibits (a)(1)(A) and (a)(1)(B) to the Schedule TO, respectively
(which, together with any amendments or supplements thereto, collectively constitute the Offer).
The information in the Offer to Purchase and the Letter of Transmittal is incorporated in this
Amendment by reference to all of the applicable items in the Schedule TO, except that such
information is amended and supplemented to the extent specifically provided in this Amendment.
Capitalized terms used and not otherwise defined in this Amendment shall have the meanings assigned
to such terms in the Offer to Purchase or in the Schedule TO.
Items 1 through 9, and Item 11.
The Offer expired at 8:00 a.m., New York City time, today, June 14, 2011. The Depositary has
advised Arch that a total of 188,388,837 Shares were validly tendered and not properly withdrawn upon
expiration of the Offer (including 16,672,951 Shares subject to guaranteed delivery procedures). The
number of Shares validly tendered and not properly withdrawn upon expiration of the Offer
represents approximately 92.3% of ICGs outstanding Shares on a non-fully diluted basis, and
approximately 89.5% of ICGs outstanding Shares on a fully diluted basis (as determined pursuant to
the Merger Agreement).
On June 14, 2011, Arch announced that it and Merger Sub intend to exercise the Top-Up Option
to purchase, at a per Share purchase price equal to $14.60 per Share (in cash, net to the seller,
without interest and subject to any required withholding taxes), an aggregate number of additional
Shares that, when added to the number of Shares owned by Merger Sub, Arch and its wholly owned
subsidiaries immediately prior to the exercise of such Top-Up Option (which for these purposes does not include Shares that have been
tendered subject to guaranteed delivery procedures), results in Merger Sub, Arch
and its wholly owned subsidiaries owning one Share more than 90% of the outstanding Shares of ICG.
Arch also announced its intention to effect a short form merger under Delaware law on June 15,
2011, which will result in ICG becoming a direct, wholly owned subsidiary of Arch. Under the Merger
Agreement and pursuant to the plan of merger contained therein, at the Effective Time, each Share
then outstanding (other than any Shares in respect of which dissenters rights are validly
exercised and any Shares held by Arch, ICG (in its treasury) or any of their direct or indirect
wholly owned subsidiaries (including Merger Sub)) will be converted into the right to receive
$14.60 per Share in cash, net to the seller, without interest and subject to any required
withholding taxes.
The full text of the press release issued by Arch announcing the expiration and completion of
the Offer, Archs intention to exercise the Top-Up Option and Archs intention to effect the Merger
is attached hereto as Exhibit (a)(5)(K) and is incorporated herein by reference.
Item 12. Exhibits.
Item 12 of the Schedule TO is hereby amended and supplemented as follows:
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Exhibit No. |
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Description |
(a)(5)(K)
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Press Release issued by Arch Coal, Inc. on June 14, 2011. |
SIGNATURES
After due inquiry and to the best knowledge and belief of the undersigned, the undersigned
certifies that the information set forth in this statement is true, complete and correct.
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Date: June 14, 2011
ATLAS ACQUISITION CORP.
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By: |
/s/ John T. Drexler
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Name: |
John T. Drexler |
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Title: |
Vice President |
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ARCH COAL, INC.
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By: |
/s/ Robert G. Jones
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Name: |
Robert G. Jones |
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Title: |
Senior Vice President Law,
General Counsel and Secretary |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
(a)(1)(A)
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Offer to Purchase dated May 16, 2011.* |
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(a)(1)(B)
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Letter of Transmittal (including Form W-9).* |
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(a)(1)(C)
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Notice of Guaranteed Delivery.* |
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(a)(1)(D)
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Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.* |
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(a)(1)(E)
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Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other
Nominees.* |
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(a)(1)(F)
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Summary Newspaper Advertisement published in The Wall Street Journal on May 16, 2011.* |
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(a)(5)(A)
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Joint Press Release issued by Arch Coal, Inc. and International Coal Group, Inc. on May 2,
2011 (incorporated in this Schedule TO by reference to the Current Report on Form 8-K
filed by Arch Coal, Inc. on May 3, 2011). |
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(a)(5)(B)
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Transcript of Investor Call regarding announcement of Merger Agreement (incorporated in
this Schedule TO by reference to the Schedule TO-C filed by Arch Coal, Inc. on May 3,
2011). |
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(a)(5)(C)
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Investor Presentation (incorporated in this Schedule TO by reference to the Schedule TO-C
filed by Arch Coal, Inc. on May 3, 2011). |
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(a)(5)(D)
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Joint Press Release issued by Arch Coal, Inc. and International Coal Group, Inc. on May
16, 2011.* |
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(a)(5)(E)
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Memorandum of Understanding, dated as of May 26, 2011.* |
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(a)(5)(F)
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Press Release issued by Arch Coal, Inc. on May 31, 2011.* |
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(a)(5)(G)
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Press Release issued by Arch Coal, Inc. on May 31, 2011.* |
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(a)(5)(H)
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Joint Press Release issued by Arch Coal, Inc. and International Coal Group, Inc. on June
1, 2011.* |
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(a)(5)(I)
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Memorandum of Understanding, dated as of June 5, 2011.* |
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(a)(5)(J)
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Memorandum of Understanding, dated as of June 5, 2011.* |
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(a)(5)(K)
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Press Release issued by Arch Coal, Inc. on June 14, 2011. |
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(b)(1)
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Debt Commitment Letter dated as of May 2, 2011 by and among Morgan Stanley Senior Funding,
Inc., PNC Bank, National Association, PNC Capital Markets LLC and Arch Coal, Inc.
(incorporated in this Schedule TO by reference to the Schedule TO-C filed by Arch Coal,
Inc. on May 3, 2011). |
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(d)(1)
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Agreement and Plan of Merger dated as of May 2, 2011 among Arch Coal, Inc., Atlas
Acquisition Corp. and International Coal Group, Inc. (incorporated in this Schedule TO by
reference to the Current Report on Form 8-K filed by Arch Coal, Inc. on May 3, 2011). |
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(d)(2)
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Tender and Voting Agreement dated as of May 2, 2011 by and among Arch Coal, Inc., Atlas
Acquisition Corp. and certain stockholders of International Coal Group, Inc. (incorporated
in this Schedule TO by reference to the Current Report on Form 8-K filed by Arch Coal,
Inc. on May 3, 2011). |
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(d)(3)
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Tender and Voting Agreement dated as of May 2, 2011 by and among Arch Coal, Inc., Atlas
Acquisition Corp. and certain stockholders of International Coal Group, Inc. (incorporated
in this Schedule TO by reference to the Current Report on Form 8-K filed by Arch Coal,
Inc. on May 3, 2011). |
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(d)(4)
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Non-Disclosure Agreement dated as of February 25, 2011 between International Coal Group,
Inc. and Arch Coal, Inc.* |
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Exhibit No. |
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Description |
(d)(5)
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Letter Agreement dated as of March 15, 2011 between International Coal Group, Inc. and
Arch Coal, Inc.* |
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(d)(6)
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Amendment to Agreement and Plan of Merger, dated as of May 26, 2011 among Arch Coal, Inc.,
Atlas Acquisition Corp. and International Coal Group, Inc.* |
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(g)
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Not applicable. |
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(h)
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Not applicable. |
exv99wxayx5yxky
Exhibit (a)(5)(K)
News from
Arch Coal, Inc.
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FOR FURTHER INFORMATION: |
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Media Kim Link 314/994-2936 |
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Investors Deck Slone 314/994-2717 |
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and Jennifer Beatty 314/994-2781 |
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For Immediate Release |
Arch Coal Completes Tender Offer
for Outstanding Shares of International Coal Group
Acquisition Expected to Close Tomorrow
ST. LOUIS (June 14, 2011) Arch Coal, Inc. (NYSE: ACI) (Arch) today announced the
completion of the cash tender offer by Arch and its wholly owned subsidiary, Atlas Acquisition
Corp. , for all of the outstanding shares of common stock of International Coal Group, Inc. (NYSE:
ICO) (ICG). The tender offer expired at 8:00 a.m., New York City time, today and was not
extended.
Computershare Trust Company, N.A., the depositary for the tender offer, has advised Arch that
a total of approximately 187,951,479 shares of ICGs common stock were validly tendered and not
properly withdrawn upon the expiration of the tender offer (including approximately 16,244,757
shares subject to guaranteed delivery procedures). The number of shares validly tendered and not
properly withdrawn upon the expiration of the tender offer represents approximately 92.1% of ICGs
outstanding common stock on a non-fully diluted basis, and approximately 89.3% of ICGs outstanding
common stock on a fully diluted basis (as determined pursuant to the previously announced merger
agreement). Arch has accepted for payment all shares that were validly tendered and not properly
withdrawn in the tender offer.
Arch also announced that it intends to exercise today its option, under the terms of the
merger agreement, to purchase directly from ICG an aggregate number of additional shares of ICG
common stock that, when added to the number of shares already owned immediately prior to the
exercise of such option (which for these purposes does not include shares that have been tendered
subject to guaranteed delivery procedures), results in Arch owning one share more than 90% of the
outstanding shares of ICG.
Following the exercise of the option and pursuant to the merger agreement, ICG will be merged
with Atlas Acquisition Corp. and function as a wholly owned subsidiary of Arch. Arch expects to
effect a short form merger under Delaware law and complete the acquisition of ICG on June 15,
2011.
Under the merger agreement and pursuant to the plan of merger contained therein, at the
effective time of the merger, each share then outstanding (other than any shares in respect of
which dissenters rights are validly exercised and any shares held by Arch, ICG (in its treasury),
or any of their wholly owned subsidiaries) will be converted into the right to receive the same
offer price of $14.60 per share (in cash, net to the seller, without interest and subject to
any required withholding taxes) that was paid in the tender offer. Promptly after the completion
of the merger, Arch intends to cause all shares of ICGs common stock to be delisted from the New
York Stock Exchange (NYSE). Upon completion of the merger, ICG shares will cease to be traded on
the NYSE and ICG will no longer have reporting obligations under the Securities Exchange Act of
1934, as amended.
About Arch
U.S.-based Arch is one of the worlds largest coal producers, with more than 160 million tons of
coal sold in 2010. Archs national network of mines supplies cleaner-burning, low-sulfur coal to
customers on four continents, including U.S. and international power producers and steel
manufacturers. In 2010, Arch achieved record revenues of $3.2 billion. For more information,
visit www.archcoal.com.
Important Additional Information
This announcement is for informational purposes only and is neither an offer to purchase nor a
solicitation of an offer to sell securities. Arch has filed with the Securities and Exchange
Commission (the SEC) a tender offer statement on Schedule TO on May 16, 2011, as amended through
the date of this release. ICG filed a tender offer solicitation/recommendation statement on
Schedule 14D-9 with the SEC on May 16, 2011, as amended through the date of this release. The
tender offer statement (including an offer to purchase, a related letter of transmittal and other
tender offer documents) and the solicitation/recommendation statement contain important information
that should be read carefully before making any decision to tender securities in the tender offer.
ICG stockholders may obtain a free copy of these materials (and all other tender offer documents
filed with the SEC) on the SECs website: www.sec.gov. The Schedule TO (including the offer to
purchase and related materials) and the Schedule 14D-9 (including the solicitation/recommendation
statement) may also be obtained for free by contacting Innisfree M&A. Stockholders may call toll
free (877) 717-3922. Banks and brokers may call collect (212) 750-5833.
Arch Coal Investor Relations 314/994-2897
Forward-Looking Statements: This press release contains forward-looking statements that is,
statements related to future, not past, events. In this context, forward-looking statements often
address our expected future business and financial performance, and often contain words such as
expects, anticipates, intends, plans, believes, seeks, or will. Forward-looking
statements by their nature address matters that are, to different degrees, uncertain. For us,
particular uncertainties arise from changes in the demand for our coal by the domestic electric
generation industry; from legislation and regulations relating to the Clean Air Act and other
environmental initiatives; from operational, geological, permit, labor and weather-related factors;
from fluctuations in the amount of cash we generate from operations; from future integration of
acquired businesses; and from numerous other matters of national, regional and global scale,
including those of a political, economic, business, competitive or regulatory nature. These
uncertainties may cause our actual future results to be materially different than those expressed
in our forward-looking statements. We do not undertake to update our forward-looking statements,
whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and
uncertainties that may affect our future results, you should see the risk factors described from
time to time in the reports we file with the SEC.
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