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Private equity firm Gores Group is in talks to purchase at least half of Borders‘ (PINK:BGPIQ) remaining stores. Borders has been meeting with potential buyers recently in hopes of pulling themselves out of Chapter 11. However, no deal has yet been made. Shares in Borders are up 4.55% today.
Shareholders of Massey Energy (NYSE:MEE) voted Wednesday to approve their acquisition by Alpha Natural Resources (NYSE:ANR). Some Massey shareholders tried to prevent the deal but West Virginia and Delaware courts denied their requests to shut down the shareholder meeting in order to give opponents of the sale a chance to create a case. The $7.1 billion sale officially closed yesterday. Shares in Alpha are down 0.24% today.
Progress Energy Resources (TSE:PRQ) of Canada announced Thursday that it would be selling a 50% stake in its North Montney shale mining venture to the Malaysian state oil company, Petronus, for $1.1 billion. This is just the most recent in a series of stories drawing attention to the mining of shale, a sedimentary rock from which natural gases can be extracted. Wednesday the partnership of Kohlberg Kravis Roberts & Company (NYSE:KKR) and Hilcorp Energy agreed to sell its oil and natural gas assets in the Eagle Ford shale formation in south Texas to Marathon Oil (NYSE:MRO) for $3.5 billion. Progress Energy Resources shares are up 8.30%.
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