Report: Massey Energy considering future options, including sale
- October 19, 2010
The board of directors of Richmond-based Massey Energy Co. is considering options for the future of the coal company, including a potential sale, according to an article published Tuesday in the Wall Street Journal.
Massey is the owner of the Upper Big Branch mine in West Virginia where an explosion killed 29 miners earlier this year.
The Journal said the board had formed a committee to consider options for the company, which could include sale of the firm, acquisition of another company or remaining independent.
By late Tuesday morning, Massey’s stock price rose almost 8 percent to $38.20.
The coal company declined to comment on the report in a written news release:
“Our Board of Directors and management team are always focused on opportunities to create shareholder value. However, we do not comment on specific opportunities.”