Walter Energy (WLT) Shares Surge, But Company Won't Comment on "Rumors"
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Shares of Walter Energy, Inc. (NYSE: WLT) are surging higher on a quiet day Friday on Wall Street amid speculation the company is in the cross-hairs of BHP Billiton (NYSE: BHP) for a takeover.
While the market is talking, the company isn't. The company wouldn't comment on today's rumors in the market.
In an e-mail response to StreetInsider.com VP Paul Blalock said, "It is the company's policy not to comment on rumors."
Earlier, StreetInsider.com characterized the rumors as "questionable." However, today's action in the stock would suggests something is in fact up. Where there's smoke there's often times fire, but in this case it may just be idle speculation.
Shares of Walter Energy last traded up 7.3 percent on volume that is on pace to double the norm.
While the market is talking, the company isn't. The company wouldn't comment on today's rumors in the market.
In an e-mail response to StreetInsider.com VP Paul Blalock said, "It is the company's policy not to comment on rumors."
Earlier, StreetInsider.com characterized the rumors as "questionable." However, today's action in the stock would suggests something is in fact up. Where there's smoke there's often times fire, but in this case it may just be idle speculation.
Shares of Walter Energy last traded up 7.3 percent on volume that is on pace to double the norm.
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