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Arch, Alpha top suitors for Massey buyout: report

PRODUCTION rivals Arch Coal and Alpha Natural Resources are reportedly top contenders in a group ...

Lou Caruana
Arch, Alpha top suitors for Massey buyout: report

According to reports in The Wall Street Journal and Reuters late last week and over the weekend, both citing anonymous sources close to the talks, ArcelorMittal is also interested but officials from both Arch and Alpha have recently been touring Massey facilities.

Arch, Alpha and Massey all have told ILN that they do not comment on merger and acquisition talks, and none of the group issued any public statement prior to press time Monday.

The WSJ reported last month that Alpha had submitted an offer for the miner, but the company did not confirm the bid.

Rumors about a sale of Massey Energy, or its purchase of another producer, have been swirling since late last year, and grew on the announcement of the retirement of Massey chairman and chief executive officer Don Blankenship. The CEO stepped down December 31.

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