Akin, Wachtell Advise Consol On $3.5B Dominion Deal

By Abigail Rubenstein

Law360, New York (March 15, 2010, 5:45 PM ET) -- Consol Energy Inc. inked a deal Monday to purchase Dominion Resources Inc.'s Appalachian exploration and production business for $3.475 billion in cash, scoring the rights to develop nearly 500,000 acres in the Marcellus Shale formation.

Consol said it plans to raise approximately $4.0 billion, and is targeting a balanced mix of equity and debt to fund the acquisition and development of the newly acquired acreage.

Bank of America Merrill Lynch and PNC Bank have provided financing commitments for the completion of the acquisition, according to Consol....
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