$7B Massey Merger Proceeds Despite Safety Claims

Law360, Wilmington (June 1, 2011, 2:34 PM EDT) -- Massey Energy Co. shareholders on Wednesday approved Alpha Natural Resources Inc.’s $7.1 billion bid for the coal giant, a day after a Delaware judge refused to block the deal, which disgruntled shareholders contended would let management off the hook for an abysmal safety record.

Massey shareholders voted to approve the deal and Alpha shareholders cleared the issuance of its shares in the transaction as well. Massey's stockholders were set to receive 1.025 shares of Alpha common stock and $10 in cash for each share of Massey...
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