Glass Lewis & Co. Recommends Alpha Shareholders Vote for the Merger With Foundation Coal
Abingdon, VA, July 24 – Alpha Natural Resources, Inc. today announced that Glass Lewis & Co., a leading proxy advisory firm, has issued a report reiterating its support for the proposed merger with Foundation Coal (NYSE: FCL). The Boards of Directors of both companies also recommend that shareholders vote their shares "FOR" the merger.
In a report to subscribers, Glass Lewis noted that Alpha expects the merger to be accretive in 2010 while creating America's third-largest coal producer, with a strong balance sheet and a balanced production mix. Glass Lewis stated that it continues to believe that the proposed merger is in the best interests of shareholders.
Alpha and Foundation announced on June 18, 2009, that the companies' respective special meetings of stockholders to vote on the proposed merger will be held on July 31, 2009. All stockholders of record as of the close of business on June 25, 2009 will be entitled to vote at the companies' respective special meetings of stockholders.