Alpha Natural Resources meets antitrust conditions for Massey acquisition
- April 4, 2011
Alpha Natural Resources announced Saturday that it has met antitrust conditions necessary for its proposed $7.1 billion acquisition of Massey Energy Co.
The companies said the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired.
In addition, the companies said the proposed merger has also received all required foreign antitrust approvals. The deal still must be approved by stockholders of both companies and the Securities and Exchange Commission. The merger is expected to be complete in mid-2011.
The combined company would be the third largest producer of metallurgical coal, which is used in steel production.