ArcelorMittal Considering Massey Buy

ArcelorMittal MT, the world's largest steel producer, may be considering an acquisition of Massey Energy MEE if the Virginia-based coal producer puts itself up for sale. Massey, the sixth-largest U.S. coal producer, has said in recent weeks that is evaluating strategic options, including a possible sale of the company or an acquisition of its own. Coal India, the world's largest coal producer, is in talks to acquire a Massey-owned mine in a deal that could be worth up to $1 billion. Massey rival Alpha Natural Resources ANR has been rumored to be interested in Massey and those talks are considered the most advanced, according to the Wall Street Journal. Arch Coal ACI and Consol Energy CNX are also exploring Massey deals, the Journal reported. Arcelor scaled back acquisitions during the financial crisis in an effort to reduce debt. Arcelor mostly has focused on securing access to iron ore, rather than coal, because coal's price has been less volatile, the Journal reported.