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Murray Revises Coal Deal After Struggling to Raise Debt

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Murray Energy Corp., the closely held coal miner founded and run by Robert E. Murray, revised the terms of a deal to acquire a stake in rival producer Foresight Energy LP after struggling to raise the required debt.

Murray will now pay $1.37 billion for a 50 percent stake in Foresight, the St. Clairsville, Ohio-based company said Tuesday in a statement, down from $1.4 billion previously.