Dec. 30, 2014, 5:01 PM
- Alpha Natural (NYSE:ANR) has closed the sale of its Amfire Mining Co. subsidiary to Rosebud Mining for $86M - $75M in cash + the assumption of liabilities. Amfire owns ten mines and four preparation plants/loadouts located in seven Pennsylvania counties.
- Alpha still owns two mines in Southwestern Pennsyvania. The company had $1.2B in cash/short-term investments at the end of September, and $3.9B in debt.
- Shares rose 5.9% in regular trading.
Dec. 6, 2012, 9:18 AM
Investors seem to take seriously the latest takeover chatter surrounding Walter Energy (WLT), sending shares +7.5% premarket as vague rumors circulate that bidders could emerge. BHP Billiton (BHP) is said to be interested again; Glencore (GLCNF.PK) could be another candidate; Anglo American has been mentioned in the past. Other coal names are up: ANR +1.9%, CNX +1.6%, ACI +1.3%, BTU +0.8%.| Dec. 6, 2012, 9:18 AM | 5 Comments
Nov. 30, 2012, 2:15 PM
Walter Energy's (WLT +7.3) refusal to comment on rumors of BHP's interest in an acquisition keeps shares moving higher, perhaps suggesting more than idle chatter. Also, another analyst sees the coal industry improving in 2013. The two developments are propping up the sector (KOL +0.5): JRCC +7.6%, OXF +4.2%, ANR +3.4%, ACI +2%, BTU +0.9%.| Nov. 30, 2012, 2:15 PM | 2 Comments
Jun. 1, 2011, 11:29 AM
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.| Jun. 1, 2011, 11:29 AM | 3 Comments
May 31, 2011, 12:14 PM
May 31, 2011, 6:05 AM
A group of Massey (MEE) shareholders are trying to halt the company's sale to Alpha Natural Resources (ANR), turning to an appeals court to block the $7.1B deal. The shareholders argue Massey's management only approved the sale to escape personal liability for the April 2010 blast that killed 29 workers.| May 31, 2011, 6:05 AM | 1 Comment