Alpha Natural Resources, Inc. (ANR) announced the completion of the Massey Energy Company acquisition creating a premier coal company in the United States and a global leader in metallurgical coal supply.
The company said that in accordance with the terms of the definitive merger agreement announced on January 29, 2011, Massey stockholders receive 1.025 shares of common stock of Alpha and $10.00 in cash for each share of Massey common stock they owned at today's closing.
Today's transaction is transformational for Alpha Natural Resources, the Central Appalachian region and the U.S. coal industry. This combination significantly enhances Alpha's industry position through the inclusion of complementary mining assets and a combined workforce that is 14,000 people strong," said Kevin Crutchfield, Alpha Natural Resources' chief executive officer.
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