Alpha Natural Resources will acquire Massey Energy for about $7.1 billion in cash and stock, Bloomberg reports. Massey shareholders will receive 1.025 Alpha Natural shares plus $10 cash for each share held. Alpha Natural will own 54% of the company, and Richmond, Virginia-based Massey will own the remaining 46%. Perella Weinberg Partners and UBS Securities advised Massey.
Click here for the story from Bloomberg.
Click here for additional coverage from Reuters.