Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alpha Natural Resources Inc. > News item |
Cliffs Natural Resources sets Nov. 21 meeting date for merger vote
By Lisa Kerner
Charlotte, N.C., Oct. 23 - Cliffs Natural Resources Inc. (formerly Cleveland-Cliffs Inc.) will hold a special meeting of stockholders on Nov. 21 to vote on the company's proposed $10 billion cash and stock buyout of Alpha Natural Resources Inc.
It was previously reported that Cliffs Natural Resources' board of directors adopted a shareholder rights plan to protect the company and its shareholders from "potentially coercive" takeover practices or takeover bids.
In addition, the company's shareholders rejected Harbinger Capital Partners' control share acquisition proposal at a special meeting held Oct. 3.
Harbinger wanted to acquire more than one-fifth but less than one-third of the company's shares outstanding. The Harbinger investors beneficially own 15.57% of the company's total issued and outstanding shares, according to a prior news release.
Alpha Natural Resources, located in Abingdon, Va., supplies Appalachian coal to the steel industry, electric utilities and other industries.
Cliffs Natural Resources, a mining company, produces iron ore pellets in North America and supplies metallurgical coal to the steelmaking industry. The company is based in Cleveland.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.