International Coal Group, Inc. (ICG), is a company headquartered in Teays Valley, West Virginia that was incorporated in May 2004 by WL Ross & Co for the sole purpose of acquiring certain assets of Horizon. ICG eventually operated 12 mining complexes in Northern and Central Appalachia (Kentucky, Maryland, and West Virginia) and one complex in the Illinois Basin. In November 2005 ICG had a stock offering on the New York Stock Exchange. In 2011 ICG became a subsidiary of Arch Coal, Inc in 2011. History Wilbur Ross's WL Ross & Co and other investors established the International Coal Group, Inc. (ICG) in May 2004 with the intention of purchasing distressed coal companies, then restructuring them to operate more competitively. In August 2004 Wilbur Ross's Newcoal LLC and Oldcoal LLC, in partnership with A.T. Massey Coal Company acquired the assets of the bankrupt Horizon Natural Resources, the fourth largest coal company in the United States. for $786 million. On August 9, 2004 U.S. Bankruptcy Judge William Howard ruled that Ross, would "not have to honor union contracts that guaranteed benefits for 1,000 active miners and some 2,300 retirees." The United Mine Workers of America staged a protest in response. Newcoal LLC was only interested in acquiring Horizon's nonunion properties. When the International Coal Group, Inc. acquired the assets of Horizon Natural Resources it changed its name to ICG, Inc. in September 2004. In a letter to shareholders ICG Chairman Ross, announced that ICG had agreed to acquire Anker Coal Group, Inc. and CoalQuest Development LLC with the transaction being carried out through a holding company reorganization. Through the reorganization the "existing International Coal Group, Inc." changed its name to "ICG, Inc." A new company called "International Coal Group, Inc." will be the holding company for ICG, Anker and CoalQuest. Shareholders who have shares of the "old International Coal Group" created in 2004 will receive shares of International Coal Group, Inc., the new holding company created in 2005 in a "one-for-one tax-free exchange". The directors and officers of old International Coal Group will become the directors and officers of International Coal Group, Inc., the new holding company. On June 15, 2011 Arch Coal acquired International Coal Group through a merger for $3.4 billion. ICG became a wholly owned subsidiary of Arch Coal. Coal prices were rising as demand for coal from China and India were increasing. The merged company is the second-largest