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Like West Virginia's Supreme Court, a Delaware judge rejected an investor request to block...

Like West Virginia's Supreme Court, a Delaware judge rejected an investor request to block Massey Energy's (MEE +0.4%) $7.1B sale to Alpha Natural Resources (ANR), saying shareholders should make the call on the deal - and they are expected to approve it today, with the hurdles cleared. Institutional investors tried to block the sale alleging that Massey was trying to escape liability for the Upper Big Branch collapse.
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Comments (3)
  • Stone Fox Capital
    , contributor
    Comments (6522) | Send Message
     
    Talk about absurd. Why would these pension funds want to block the merger just to punish the executives at MEE? Over the last 12 months, MEE stock outperformed so what is the complaint? They sure wouldn't have gotten more money by blocking the merger. Thankfully the judge realized that blocking the merger only hurt shareholders regardless of what these funds wanted.
    1 Jun 2011, 11:36 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Lawyer's from Institutional investors made lot of money with these fights. Somebody should get these lawyers just for fighting against this merger.
    1 Jun 2011, 11:45 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3362) | Send Message
     
    I wonder what the miners want.
    1 Jun 2011, 11:55 AM Reply Like
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