Alpha enters bid for Massey: report

VIRGINIAN producer Alpha Natural Resources has reportedly made an offer to purchase producing rival Massey Energy, adding fuel to rumors regarding Massey’s future.
Alpha enters bid for Massey: report Alpha enters bid for Massey: report Alpha enters bid for Massey: report Alpha enters bid for Massey: report Alpha enters bid for Massey: report

Don Blankenship

Donna Schmidt

Members of Massey’s board were cited as sources in a Wall Street Journal report Tuesday that an offer had been made but that the group had opted not to start a formal bidding process.

Steelmaker ArcelorMittal has also expressed interest in an acquisition, the news service said.

WSJ quoted Massey chairman Bobby Inman as saying that the producer was “not near a clear decision point” as to whether it would sell or acquire another business.

Massey spokesperson Jeff Gillenwater would not confirm any talks to ILN.

“The board is continuing to evaluate all of its strategic options,” he said, and declined further comment.

Alpha did not respond to an ILN request for comment by press time.

Bloomberg reported late last week that Massey was exploring its options, including a sale or potential takeover of fellow Appalachian producer International Coal Group. While the news service said talks began months ago, had stalled and now returned, ICG has not issued public comment.

Massey chairman and chief executive Don Blankenship announced in early December that he will retire from his post at the end of this year.

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