Laserfiche WebLink
THE NORTH' <br />SIGNII7 <br />August 30, 2c100 <br />- 'Thomas K Amster <br />Vice President <br />Goldman, Sachs & Co. <br />2121 Avenue of the Stars, Suite 2600 <br />Los Angeles, CA 900b7 <br />RE: Proposal forIv>ontanaPowerCoalBusiness <br />Aeatr Mr. Amister_ <br />977/219-7625 <br />' FAX 972/38?-1326 <br />CiDRAORAT)<ON ` <br />surrttlwo _._ _. ...__`_ <br />CONFII)BNTIAL <br />Westmoreland Coal Company ("WCC'~ and The North American Coal Corporation <br />("NAC' wish to acquire the Coal Business of The Montana Power Company <br />("Company's for $153.00 million, is TJ.S. dollars, subject to the tams and conditions <br />provided with this letter and the attachments hereto ("Proposal"). l'Iuder the Tax <br />Advantaged Option in WCC's attached Proposal the Coatpany could receive up to an <br />addi6ona1530.00 million is comparable rtrtaX purchase value, increasing the <br />transaction value to $183.00 million. <br />While WCC and NAC are jointly submitting this Proposal, the companies would acquire <br />the stork ar assets of separate corporate entities within the Coal Business. WCC would <br />acquire the stock of Weston Energy Co., Western SynCoal L.L.C., Basin Resources, <br />North Central Eucrgy, and Horizon Coal Services for 5102.00 million. NAC would <br />acquire the assets of Northwestern Resources, Inc. for a pn-tax equivalent of 551.00 <br />million. We would cnJaavor to finalize any transaction(s) promptly and efficiently, in <br />keeping with the Company's goals, and WCC and NAC would be willing to discuss <br />structures that would pcrtait the Cuwpaty to enter into a single purchase a~eement. The <br />Company may accept either or both. WCC's proposal for Western Energy Co., Western <br />SynCoal L.L.C., Basin Resources, North Cetatzal Bmergy, acrd Horizon Coal Services may <br />be considered in whole or in part, but in tto instance without the inclusion of Western <br />tar r, ern ~r~a i,:a, <br />b0 39t1d <br />~ Q/1248 <br />I <br />~ a~~ -m7 , raze oqr~ n-, <br />Wf11Cl WIT 65t09b86SL 55~bS L00Z/9t/E0 <br />