CHARLESTON, W.Va. — Alpha Natural Resources said Tuesday it plans to buy rival Foundation Coal for about $1.4 billion in an all-stock deal that would create the nation’s third-largest coal producer. Foundation Coal shares jumped nearly 21 percent. Talk of another wave of consolidation in the coal industry has been growing louder in recent weeks and on Tuesday, Alpha Chief Executive Mike Quillen said the bid for Foundation reflected that need.
wire reports
wire reports
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