Chevron buys Atlas Energy for $4.3 billion
Chevron Corp will buy U.S. pure gas producer Atlas Energy for $4.3 billion ($3.2 billion in cash and can take on an additional $1.1 billion in existing financial debt owed by Atlas), giving the oil giant a crucial stake within the fast-growing Marcellus shale fields.
Atlas shareholders will acquire $38.25/share in money plus a pro-rated share of 41 million items of Atlas Pipeline Holdings, L.P. (NYSE:AHD). The Atlas Pipeline models are valued at $5.09/unit, bringing the complete per share payout to Atlas Energy shareholders to $43.34/share.
Chevron shares have dropped about -1.3% this morning on heavy volume. Atlas shares are up about 33% on more than 15 occasions typical quantity. As if in support of the Chevron-Atlas tie-up, the united states Natural Gas ETF (NYSE:UNG) can be up about 1% this morning.
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