DealZone

Deals wrap: Investors cheer as Alpha’s Massey takeover sinks in

January 31, 2011

MINING-MASSEY/ACCIDENTShares of coal miner Massey Energy surged in trading on Monday, the first trading day after rival Alpha Natural Resources agreed to buy it in a $7 billion deal.

AMB Property Corp has struck a deal to buy rival ProLogis for $5.7 billion in stock, combining the two largest U.S. owners of warehouse and distribution centers around the world in one of the biggest real-estate deals since the financial crisis.

U.S. biotechnology company Genzyme Corp and French drugmaker Sanofi-Aventis SA have reached an agreement in principle on the outlines of a merger deal, sources familiar with the situation said on Monday.
Earlier in the day, the two companies said they had entered into a nondisclosure agreement, allowing Genzyme to open its books to Sanofi.

Investors have written to BHP Billiton and Rio Tinto to say the miners should ditch ambitions for mega deals in favor of multi-billion pound share buyback schemes, The Sunday Telegraph reported.

Chrysler Group LLC forecast a return to profit for 2011 as it gears up for an initial public offering in the second half of the year and launches an array of new and revamped vehicle models to stimulate its recovery.


(Photo credit: A 2010 U.S. Geological Survey aerial photograph shows Massey Energy’s Upper Big Branch Coal Mine in Montcoal, West Virginia. REUTERS/U.S. Geological Survey photograph via Microsoft Bing Maps/Handout)

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