Alpha Natural Resources receives $500M bid for mines

Alpha Natural Resources said it has received a $500 million bid to acquire its Greene County mines, natural gas reserves in southwestern Pennsylvania and assets in other states that would pave the way for the mines to be sold by bidding or auction in the spring.

In a 555-page filing Monday by Alpha Natural Resources in its federal bankruptcy case in Richmond, Va., said that the bid by pre-bankruptcy petition lenders is "central" to its restructuring efforts. The $500 million stalking-horse bid...