Walter Energy (WLT) Shares Surge, But Company Won't Comment on "Rumors"

November 30, 2012 1:44 PM EST Send to a Friend
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 VP Paul Blalock said, "It is the company's policy not to comment on rumors."

Earlier, 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment