L&L Energy -8% premarket after announcing alliance to complete acquisition

L&L Energy (LLEN) -8% premarket following the formation of a strategic alliance with previously announced partner Tianjin Fuhao to complete an acquisition of one of L&L's targets.

Tianjin will contribute the majority initial funding needed, while LLEN will operate and pre-sell coal from the target to Tianjin once it secures controlling interest.

Comments (1)
  • Mopar44134
    , contributor
    Comments (7) | Send Message
    I'm new to all this. Why is the stock dropping again? Quarterly report seemed good. establishing a new alliance seems like it would be a positive.
    20 Aug 2013, 01:59 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs