Murray Energy Targets March Auction as Miner Seeks Suitors

Bankrupt Murray Energy Holdings Co. is targeting a March 2020 auction of its assets as its investment banker, Evercore Inc., is negotiating non-disclosure agreements with potential buyers, court papers show.

• Murray, the largest privately held coal miner in the U.S., proposes a preliminary bid deadline of Jan. 21 and court approval of its bankruptcy plan by May 6: filing
• Co. is also asking a judge to allow a group of its secured lenders to bid their debt to buy Murray’s assets, setting a price floor for the auction
  • Term sheet included in court papers doesn’t specify a price for ...