Mining group Cleveland-Cliffs Inc. (CLF) has agreed to buy coal producer Alpha Natural Resources (ANR) in a cash and stock deal the companies said is worth around $10 billion, a 35% premium to yesterdays closing price. ANR has been a consituent of the IPOX Global Indexes, including the IPOX US 100 (ETF Ticker: FPX) and IPOX Global 100 Indexes, since going public in February 2005 at US 19.00. The takeover value is estimated at USD 128.12.
News
IPOX Breaking News: Alpha Natural Resources (ANR), major IPOX constituent, in takeover deal involving 35 premium
July 16th, 2008