Chevron (CVS) said today it has agreed to acquire Atlas Energy (NYSE:ATLS) for a total of $4.3 billion.
The deal is made up of $3.2 billion in cash and $1.1 billion in assumed debt.
Chevron said the acquisition will provide it with a natural gas resource position in southwestern Pennsylvania’s Marcellus Shale.
Atlas’ assets include an estimated nine trillion cubic feet of natural gas, among them 850 billion cubic feet of proved reserves and 80 million cubic feet of daily production.
Under the agreement, Atlas shareholders will receive $38.25 per share in cash for each share of Atlas owned, and a pro-rata distribution of over 41 million units of Atlas Pipeline Holdings (AHD).
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Wednesday 6/19 Insider Buying Report: MVC
Tuesday 6/18 Insider Buying Report: CTSH
Tuesday 6/18 Insider Buying Report: PAY, XLS
Subscription Revenue Climbs at Adobe
Earnings Slump at FedEx in Fiscal Q4
Daily Wrap: June 18, 2013
New Analyst Coverage: ING, KO, SPN
Analyst Moves: AIG, ADBE, BLL
Analyst Moves: BBRY, CLF, AEO
Wednesday Sector Leaders: Real Estate, Oil & Gas Refining & Marketing Stocks
Wednesday Sector Laggards: Waste Management, General Contractors & Builders
Tuesday Sector Leaders: Agriculture & Farm Products, Entertainment
FXI, FPA: Big ETF Outflows
XLE, IPD: Big ETF Inflows
Tuesday's ETF with Unusual Volume: IWX
Daily Dividend Report: FITB, IVR, AMTG, SUI, USB
Daily Dividend Report: SRE, LLY, AMAT, RL, PETM
Daily Dividend Report: CHK, SRC, KCAP, ROP, CPT
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013