Yael Pipano

Following the Cleveland Cliffs / Alpha Natural Resources Deal

most important part of this article: The combined company will have a reserve base of about one billion tons of iron ore and about one billion tons of metallurgical and thermal coal, with annual sales volume of over 30 million tons of iron ore and nearly 18 million tons of metallurgical coal. It will ship about 17 million tons of thermal coal annually.

Following the Cleveland Cliffs / Alpha Natural Resources Deal

oops, sorry, CLF is willing to pay $114.62/each ANR share which is now trading @ $95/shr as of close of 7/17/08!

Following the Cleveland Cliffs / Alpha Natural Resources Deal

how is it that ANR price went down (on 7/17/08) if $22.23 in cash plus .95 of CLF share's value adds up to $18.88 profit per share for ANR shareholders (ANR is now worth $95/shr and CLF is willing to pay $92.39/shr)?? anyone? explanation please...