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Alpha Natural To Buy Massey for $7.1B
Alpha Natural Resources will acquire Massey Energy for about $7.1 billion in cash and stock.
Alpha Natural Resources willacquire Massey Energy for about $7.1 billion in cash and stock, Bloomberg reports. Massey shareholders will receive 1.025 Alpha Natural shares plus $10 cash for each share held.
Alpha Natural will own 54% of the company, and Richmond, Virginia-based Massey will own the remaining 46%. Perella Weinberg Partners and UBS Securities advised Massey.
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Click here for additional coverage from Reuters.