On Monday, Central Appalachian coal producer Massey Energy MEE lowered its full-year forecast for sales volume and realized prices and projected higher unit costs. Massey is facing delays
Central App players we cover, Alpha is more "Patriot-like." It acquired several unionized operations when it bought Massey Energy in early 2011 (10% of employees). More importantly, Massey, being a very old miner, accumulated nearly $1 billion
compared with the credit quality of the company. Proceeds will be used to partially fund the $8.5 billion acquisition of Massey Energy MEE. We downgraded Alpha Natural Resources to BB from BBB- after the Massey transaction announcement, mainly because of
Alpha Natural Resources ANR and Massey Energy MEE both reported poor first-quarter 2011 results. Alpha was struck by higher costs and much lower shipments. Costs per ton
second-largest reserve holder in Central Appalachia as well, behind Alpha Natural Resources ANR following its purchase of Massey Energy MEE. This diversification will serve to spread out some regulatory and economic risks and is a positive. However, Arch
NEW YORK (Reuters) - Alpha Natural Resources Inc , which has agreed to buy rival Massey Energy , posted fourth-quarter profit that beat Wall Street estimates.
Resources ANR by two notches, from BBB- to BB, on the basis of our assessment that the recently announced acquisition of Massey Energy MEE will be detrimental to Alpha's underlying credit quality. We are raising our issuer rating for Massey from BB- to
NEW YORK (Reuters) - Shares of U.S. coal mining companies rose on Monday on speculation of a wave of consolidation in the industry after Alpha Natural Resources agreed to buy Massey Energy in a $7...
Alpha Natural Resources ANR finally negotiated the merger it's been seeking for the past three years by agreeing to acquire Massey Energy MEE for 1.025 shares plus $10 of cash for each Massey share. Factoring in Alpha's stock price fall Monday, the deal
The Wall Street Journal reported a few hours ago that Alpha Natural Resources ANR has made an approach to acquire Massey Energy MEE, the troubled Central Appalachian miner that is currently reviewing strategic options. So far, Massey's stock