Shell To Pay $4.7B For Northeast Natural Gas Co.

Law360, New York (May 28, 2010, 10:07 AM EDT) -- Royal Dutch Shell PLC said Friday that it would buy East Resources Inc., a natural gas and crude oil explorer, for $4.7 billion as it looks to continue building the company's North American holdings in the so-called tight-gas market.

Shell said it would pay cash for the Pennsylvania-based company, which it will buy from private equity investor Kohlberg Kravis Roberts & Co.

Shell CEO Peter Voser said the transaction would enhance the company's worldwide upstream portfolio, which it is growing through exploration and acquisitions and by...
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