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On June 1, 2011, shareholders of Alpha Natural Resources agreed to buy Massey Energy for $7.1 billion, making it the nation's largest metallurgical coal company. Some shareholder groups had tried to block the sale claiming that Massey managers had engineered the sale of the company to protect themselves from liabilities and had arranged new management jobs with Alpha.
The mine was operated by the Performance Coal Company, a subsidiary of Massey Energy. [2] The explosion ignited from an unknown source with high methane levels being a contributing causal factor. Twenty-five men were initially identified as killed. [13] Four days later, four missing men were found dead for a total of 29 deaths.
Donald Leon Blankenship (born March 14, 1950) is an American businessman. He was chairman and CEO of the Massey Energy Company—the sixth-largest coal company (by 2008 production) in the United States [2] —from 2000 until 2010 when an explosion at Massey's Upper Big Branch Mine resulted in the death of 29 workers.
Manchin was governor when the Massey Energy mine Blankenship ran blew up. By the time the ex-CEO was sentenced to a year in prison, Manchin was a U.S. senator. “No sentence is severe enough ...
It's been a tough year for Massey Energy (MEE), but today the stock got a boost. The coal mining company announced it is "exploring strategic alternatives," which is finance-speak for a possible ...
The U.S. Department of Labor on Nov. 3 asked a court to shut down Massey Energy's Freedom Energy Mine No. 1 in eastern Kentucky until Massey (MEE) addresses the myriad dangerous conditions there.
On January 31, 2011, Alpha Natural Resources acquired coal producer Massey Energy for US$7.1 billion, completed in June 2011, creating the second biggest coal miner by market capitalization. [6] The merged company (54% owned by Alpha Natural Resources) would be the leading producer of metallurgical coal in the US and have the second largest ...
A daily look at legal news and the business of law: Investigations of Massey Energy Sprout Like Goldman Probes Massey Energy (MEE), which ran the Upper Big Branch coal mine in West Virginia where ...