Buy Alpha Natural Resources Massey Energy
Washington, Jan 29 (EFE) .- The U.S. mining company Alpha Natural Resources announced it will acquire the coal mine operator Massey Energy in a deal of over 8,500 million dollars that will create a giant new coal producer.
In a statement, Alpha said it will buy “all the outstanding shares” of Massey, on payment to shareholders of 1,025 of its own titles and $ 10 in cash for each share of the acquired company.
Thus, Alpha will pay $ 69.33 per share, representing a premium of 21 percent over the closing price of the securities of Massey on Friday, which was $ 57.23.
The purchase of Massey comes after a series of legal potholes that have weakened the company, especially the explosion in April 2010 Upper Big Branch mine in West Virginia that killed 29 workers and became the sector further incident since 1984.
For Alpha, is an opportunity to expand its presence in the market for metallurgical coal is increasingly valued in the production of steel.
“Together, we are committed to creating a stronger company that has the ability to capitalize on new opportunities for growth, success in a changing regulatory landscape and maintain the highest standards in safety and environmental excellence,” said executive director of Alpha, Kevin Crutchfield said in a statement.
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