CANONSBURG, Pa., April 28 /PRNewswire-FirstCall/ -- The special
committee of the board of directors of CNX Gas Corporation (NYSE:
CXG) announced today that on April 28,
2010, CONSOL Energy Inc. filed with the United States
Securities and Exchange Commission (the "SEC") a tender offer
statement and Schedule 13E-3 on Schedule TO announcing the offer to
purchase all of the outstanding shares of the common stock of CNX
Gas not owned by CONSOL Energy at a price of $38.25 in cash per share. On March 21, 2010, CONSOL Energy publicly announced
that it intended to commence such a tender offer.
As previously announced, the board of directors of CNX Gas
designated John R. Pipski as the
sole member of a special committee that was formed to evaluate the
offer. Within ten business days, CNX Gas will advise
stockholders of its position regarding the tender offer as
determined by the special committee. At that time, CNX Gas
will file with the SEC certain materials, including a
Solicitation/Recommendation Statement on Schedule 14D-9, that will
contain information that the special committee believes should be
considered in connection with CNX Gas stockholders' decision with
respect to the tender offer. On behalf of CNX Gas, the
special committee requests that stockholders defer making a
determination whether to accept or reject the tender offer until
they have been advised of the position of the CNX Gas special
committee with respect to the tender offer.
NOTICE TO STOCKHOLDERS
In response to the tender offer, CNX Gas will file with the SEC
certain materials, including a Solicitation/Recommendation
Statement on Schedule 14D-9. Stockholders of CNX Gas are
strongly advised to read the Solicitation/Recommendation Statement
(when it becomes available) because it will contain important
information. Stockholders may obtain a free copy of the
Solicitation/Recommendation Statement (when it becomes available)
and other materials filed by CNX Gas with the SEC at the SEC's web
site, www.sec.gov. Stockholders may also obtain, without
charge, a copy of the Solicitation/Recommendation Statement and
other materials (if and when they become available) by directing a
request to CNX Gas, 1000 CONSOL Energy Drive, Canonsburg, Pennsylvania 15317,
Attention: Investor Relations.
SOURCE CNX Gas Corporation