ABINGDON, Va. and RICHMOND, Va., May 18, 2011 /PRNewswire/ -- Alpha Natural Resources, Inc. (NYSE: ANR) and Massey Energy Company (NYSE: MEE) announced today that Institutional Shareholder Services (ISS) has recommended that shareholders of ANR and MEE vote for adoption of all board-sponsored proposals to merge the two companies.
Kevin Crutchfield, ANR's Chief Executive Officer, said, "We are pleased that ISS has joined with many leading industry analysts in recognizing the strong strategic rationale behind this transaction and gratified by the support that we've received for this transaction from our own shareholders."
Baxter F. Phillips, Jr., MEE's Chief Executive Officer & President, said, "We are pleased by the ISS endorsement of this transaction and look forward to the shareholder vote on June 1."
Special meetings of ANR and MEE shareholders have been called to consider and act on the proposed merger on June 1, 2011. Assuming ANR and MEE shareholders approve the proposals, ANR plans to consummate the merger after the shareholder meetings on June 1.About Alpha Natural Resources Alpha Natural Resources is one of America's premier coal suppliers with coal production capacity of greater than 90 million tons a year. Alpha is the nation's leading supplier and exporter of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries across the country. The Company, through its affiliates, employs approximately 6,500 people and operates approximately 68 mines and 13 coal preparation facilities in Appalachia and the Powder River Basin. More information about Alpha can be found on the Company's Web site at www.alphanr.com. About Massey Energy Company Massey Energy Company, headquartered in Richmond, Va., with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P500 Index. Massey produces, processes and sells various steam and metallurgical grade coals through its 25 processing plants and shipping centers and employs, through its various subsidiaries, more than 7,300 employees. More information about Massey can be found on the company's Web site at www.masseyenergyco.com. Forward Looking Statements Information set forth herein contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties. Alpha cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV