Market Vectors Coal ETF (KOL) Could Be One To Watch on ANR/FCL Merger
Traders should be watching the action in coal ETF Market Vectors Coal (NYSE: KOL) today following the announced merger of Alpha Natural Resources (NYSE: ANR) and Foundation Coal Holdings (NYSE: FCL).
Based on yesterday's close, the deal comes in at 40% premium to yesterday's close. This could fluctuate because it is a stock for stock deal.
Individual stocks in the industry include: Arch Coal (NYSE: ACI), Massey Energy (NYSE: MEE), Peabody (NYSE: BTU), Walter Energy (NYSE: WLT), and James River Coal Co. (Nasdaq: JRCC).
Based on yesterday's close, the deal comes in at 40% premium to yesterday's close. This could fluctuate because it is a stock for stock deal.
Individual stocks in the industry include: Arch Coal (NYSE: ACI), Massey Energy (NYSE: MEE), Peabody (NYSE: BTU), Walter Energy (NYSE: WLT), and James River Coal Co. (Nasdaq: JRCC).
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