Deals
Alpha Said to Be Close to $7 Billion Massey Energy Takeover
This article is for subscribers only.
Alpha Natural Resources Inc., the third-biggest U.S. coal producer, is close to an agreement to buy Massey Energy Co. for about $7 billion, according to a person familiar with the situation.
The stock and cash offer values Massey, the largest Central Appalachian coal producer, at $68 to $69 a share, said the person, who declined to be identified because the talks are private. An agreement may be reached as early as today and announced on Jan. 31, this person said. The Wall Street Journal reported the deal earlier.