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Cliffs Natural Resources proposes to acquire Alpha Natural Resources for $10 billion

July 2008

Client(s) Cliffs Natural Resources Inc.

Jones Day advised Cliffs Natural Resources Inc. in its proposed acquisition of Alpha Natural Resources Inc. in a cash and stock transaction valued at approximately $10 billion.

In addition to M&A representation, Jones Day provided antitrust (with clearance by the Federal Trade Commission), employee benefits, environmental, lending, and tax advice regarding this transaction.

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