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Massey Energy’s Board Orders Review of ‘Strategic Alternatives’

Massey Energy Co., owner of the West Virginia mine where 29 people died in April, said its board of directors ordered a review of strategic alternatives “to enhance shareholder value,” a process that may lead to sale of the company.

A special committee of the board “will advise and report” to the directors on the effort, Richmond, Virginia-based Massey said in a statement today. Perella Weinberg Partners LP was retained as financial adviser and Cravath Swaine & Moore LLP as legal adviser for the committee, the company said.