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Covington Advises UBS in $3.4B International Coal Group Deal

May 2, 2011

NEW YORK, May 2, 2011 — Covington & Burling LLP represented UBS Securities LLC, financial adviser to International Coal Group, Inc., in its $3.4 billion sale to Arch Coal, Inc., creating the second largest U.S. metallurgical coal supplier and a top-five overall global coal producer and marketer.

Under the terms of the agreement, Arch will acquire all of the outstanding shares of ICG for $14.60 per share, in an all-cash transaction.

UBS provides investment banking and securities, wealth management, asset management and retail and corporate banking services worldwide. ICG is a producer of coal in Northern and Central Appalachia and the Illinois Basin. U.S.-based Arch Coal is one of the world's largest coal producers, with more than 160 million tons of coal sold in 2010.

The New York-based Covington corporate team was led by partner J. D. Weinberg, with associate Silas Lum*.

*Not yet admitted to practice.

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