Massey selling BMR to ALPHA

Massey selling BMR to ALPHA

Posted in the Harlan Forum

Info

United States

#1 Nov 11, 2010
Has anyone heard about Alpha buying BMR from Massey? Already? Geez, that is just mind boggling! I seen it on the website TATTOO. It is an investor and coal site. Just wondering if anyone has heard anything? Hope they do not shut down!
what

United States

#2 Nov 12, 2010
What? My husband hasn't heard anything. I would like to know also because Christmas and bills. Lord, I hope not. Please someone post if you know for sure!
David

Fulton, KY

#3 Nov 12, 2010
Info wrote:
Has anyone heard about Alpha buying BMR from Massey? Already? Geez, that is just mind boggling! I seen it on the website TATTOO. It is an investor and coal site. Just wondering if anyone has heard anything? Hope they do not shut down!
http://www.kentucky.com/2010/11/05/1511796/ma...
its true
WOWWWWW

Harlan, KY

#4 Nov 12, 2010
No it's not true. Is all the article said was they were considering a buyout from Alpha. The stocks had raised which is good for the company, that may be exactly what they need is a name change since Massey has such a bad one right now. If Alpha does buy it I dont see it as being such a bad thing. I don't see them spending Millions of dollars to idle a company. Honestly I think it will be exactly the same.
guest

Harlan, KY

#5 Nov 12, 2010
Alpha is a lot better to work for than Massey.
Nicely hung

London, KY

#6 Nov 13, 2010
Info wrote:
Has anyone heard about Alpha buying BMR from Massey? Already? Geez, that is just mind boggling! I seen it on the website TATTOO. It is an investor and coal site. Just wondering if anyone has heard anything? Hope they do not shut down!
NEW YORK -- Shares of coal miner Massey Energy Co. jumped more than 11 percent Friday on rumors of a takeover offer from rival Alpha Natural Resources.
The Wall Street Journal reported that Alpha Natural Resources Inc. was considering a buyout of the Richmond, Va., company. The Journal said Massey hired investment bank Perella Weinberg as an adviser on Alpha's possible bid and will review its options at a board meeting later this month.
Massey shares rose $4.73, or 11.2 percent, to close at $46.94, after trading as high as $48.12 earlier in the session. Alpha shares fell $1.26, or 2.8 percent, to close at $44.45.

Source N.Y. Times newspaper
buddy

United States

#7 Nov 15, 2010
I was told they might close it a few weeks in Jan, Rumor is that they might do that to lay off and rehire at lower wages. We will see. Screws Christmas up not knowing for sure though.
woe

Lexington, KY

#8 Nov 15, 2010
well if they do sell theres nuthin anyone can do.. just live with it and go with the flow.. which i think massey has bitten off more than they can chew..heard the same thing about jan.. lay offs for a few months till the company takes over and then they will call some back like always..
buddy

United States

#9 Nov 15, 2010
I wish Richard Gilliam would just buy it back! He was the best to work for. It's very wrong what they do to these coal miners
I was never one that liled union, but in this day and time they almost need one to keep jobs and benefits, and to know they will be taken care of at retirement! Times are changing, and I guess we also have to change with them!
woe

Lexington, KY

#10 Nov 15, 2010
buddy wrote:
I wish Richard Gilliam would just buy it back! He was the best to work for. It's very wrong what they do to these coal miners
I was never one that liled union, but in this day and time they almost need one to keep jobs and benefits, and to know they will be taken care of at retirement! Times are changing, and I guess we also have to change with them!
yeah iknow wat u mean.. jobs r getting hard to get and pay cuts don't help pay the bills.. thats all we have in ky.. factory's yea right.. it takes too long to get them started and too many people are unemployed..
miner

London, KY

#11 Nov 15, 2010
its true alpha is buying out massey not just black mountain resources but everything that massey owns. alpha is paying $4.4 billion it was in the paper in VA last week

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