Patriot Coal miners union reaches agreement
Source: bizjournals
Angela Mueller
The union representing Patriot Coal's mine workers has reached a prospective agreement with the suitors bidding on the bankrupt company's assets.
The United Mine Workers of America International's president, Cecil Roberts, issued a statement saying the union had reached prospective collective bargaining agreements with both Blackhawk Mining and the Virginia Conservation Legacy Fund, the two bidders for Patriot Coal's properties.
"Patriot wanted to sell these properties free and clear without the union, but instead we have prospective agreements with the only two bidders for these properties," Roberts said in the statement. "There is still more work to do on the actual language of these prospective agreements, and there are several more legal hurdles that must be resolved in bankruptcy court before we would be able to take these prospective agreements to our members for ratification."
Roberts said it was "not yet clear" when that vote would be.
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