Monday, November 22, 2010

Massey Energy Spikes On Renewed Takeover Talk

Shares of Massey Energy Co. (NYSE: MEE) rallied more than 3% on Monday after Bloomberg reported that the coal producer plans to begin a process to explore the sale of the company and to solicit offers from potential buyers. The company will form a special board committee to study options and may make an announcement as soon as today, Bloomberg said, citing anonymous sources. The special committee will be advised by Perella Weinberg Partners LP and Cravath Swaine & Moore LLP. Stay tuned for more.

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