This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Massey Comments On Debt Tender Offer By Alpha Natural Resources, Inc.

RICHMOND, Va., May 16, 2011 /PRNewswire/ -- Massey Energy Company (NYSE: MEE) today announced that its Board of Directors had confirmed a decision to express no opinion and remain neutral toward the offer by Alpha Natural Resources, Inc. ("Alpha") on May 3, 2011, to purchase any and all of Massey's outstanding 6.875% Senior Notes due 2013 (the "Tender Offer").  The Tender Offer was contemplated in connection with the previously announced Agreement and Plan of Merger (the "Merger Agreement") dated January 28, 2011 with Alpha and Mountain Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Alpha ("Merger Sub"), providing for the acquisition of Massey by Alpha.  Subject to the terms and conditions of the Merger Agreement, Massey will be merged with and into Merger Sub (the "Merger"), with Massey surviving the Merger as a wholly owned subsidiary of Alpha.

Massey today announced that its Board of Directors believes that each noteholder should make its decision as to whether to tender on an individual rather than collective basis, based on the noteholder's particular circumstances.  The Board of Directors believes the determination of whether to tender is a financial decision to be made by each noteholder, in consultation with the noteholder's financial advisor, based on the terms of the Tender Offer and the consideration amount being offered by Alpha.  For these reasons, the Board of Directors believes that it is not appropriate for it to make a recommendation to noteholders regarding the Tender Offer and expresses no opinion as to the course of action that noteholders should take in connection with the Tender Offer and remains neutral toward the Tender Offer.

The announcements contained in this press release were made pursuant to Rule 14e-2 under the Securities Exchange Act of 1934, as amended.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TSLA $232.00 -0.14%
YHOO $35.93 -0.22%
AAPL $94.70 -0.50%
FB $117.84 0.35%
GOOG $695.34 0.43%


Chart of I:DJI
DOW 17,712.69 -38.22 -0.22%
S&P 500 2,055.19 -8.18 -0.40%
NASDAQ 4,746.5220 -16.7020 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs