Cliffs Natural Resources defeats motion for temporary restraining order
Clients Cliffs Natural Resources Inc.
Jones Day represented Cliffs Natural Resources Inc. ("Cliffs") in an action filed by Alpha Natural Resources, Inc. ("Alpha") in the Delaware Court of Chancery seeking to enjoin Cliffs from rescheduling its stockholders' meeting and vote to approve an Agreement and Plan of Merger dated as of July 15, 2008 by and among Cliffs (f/k/a Cleveland-Cliffs Inc.), Alpha Merger Sub, Inc. (f/k/a Daily Double Acquisition, Inc.), a wholly-owned subsidiary of Cliffs, and Alpha (the "Merger Agreement"). Alpha's amended complaint asserted, inter alia, claims for breach of contract and breach of implied covenant of good faith and fair dealing in connection with Cliffs' rescheduling of its stockholders' meeting. After Jones Day defeated Alpha's motion for a TRO, the parties reached a favorable settlement whereby they agreed to terminate the Merger Agreement.
Alpha Natural Resources, Inc. v. Cliffs Natural Resources Inc., C.A. No. 4133-VCL (Del. Ch.)