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.
, 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
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
and the Powder River Basin. More information about Alpha can be found on the Company's Web site at
About Massey Energy Company
Massey Energy Company, headquartered in
, with operations in
, is the largest coal producer in
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
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.