Cleveland-Cliffs (CLF) To Acquire Alpha Natural Resources (ANR) In Cash/Stock Deal Worth $128.12/Share
More News related to ANR
- Emerald Mine Experiences Roof Fall
- Goldman Sachs Makes Changes In the Coal Sector (KOL, BTU)
- Alpha Natural Resources to Speak at Upcoming Investor Conferences
- FBR Capital Reiterates an 'Outperform' on Alpha Natural Resources (ANR); Raises Estimates & PT
- Alpha Natural Resources (ANR) Posts Q3 EPS of $0.47, Misses Views
More News related to CLF
- renewaFUEL, LLC Receives Plan Approval for Marquette, Mich., Biomass Production Plant
- Cliffs Natural Resources (CLF) Increases Dividend by Over 100%
- Cliffs Natural Resources Inc. Increases Common Share Quarterly Dividend to $0.0875 from $0.04
- After-Hours Movers 10/29: AXTI, ISSI, APKT, GNW, CEC, CSA, LVS Higher; IDIX, NVTL, TSRA, CRDC Lower
- Cliffs Natural Resources (CLF) Reports Q3 EPS of $0.45
Cleveland-Cliffs Inc (NYSE: CLF) and Alpha Natural Resources, Inc. (NYSE: ANR) announced a definitive merger agreement under which Cleveland-Cliffs will acquire all outstanding shares of Alpha in a cash and stock transaction valued at approximately $10 billion.
Under the terms of the agreement, for each share of Alpha common stock, Alpha stockholders would receive 0.95 Cleveland-Cliffs common shares and $22.23 in cash. Based on Cleveland-Cliffs’ closing stock price on July 15, 2008, Alpha stockholders would receive $128.12 per share, which represents a premium of 35% to Alpha’s closing stock price on July 15, 2008.
Related Categories
Hot ListMergers and Acquisitions
Stocks Mentioned
-0.22
+0.74Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
