A year ago, Massey Energy’s (MEE) shares were trading at a lowly $10.
But since then, its shares have seen a powerful rally, and the stock price is now at $51.74.
To capitalize on the big run, Massey is revving up its deal machine. This week, the company agreed to pay $960 million for Cumberland Resources. With no assumption of debt, the transaction consists of $640 million in cash and the rest in stock.
But since then, its shares have seen a powerful rally, and the stock price is now at $51.74.
To capitalize on the big run, Massey is revving up its deal machine. This week, the company agreed to pay $960 million for Cumberland Resources. With no assumption of debt, the transaction consists of $640 million in cash and the rest in stock.
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