Law360, New York (November 09, 2010, 12:01 PM ET) -- Chevron Corp. on Tuesday moved to dramatically up its presence in the North American natural gas sector, particularly the productive Marcellus Shale region, by announcing a deal to buy Atlas Energy Inc. for $3.2 billion.
The nation's second-largest oil company said it would also take on approximately $1.1 billion of Atlas' outstanding debt. Atlas stockholders will receive a total of $43.34 per share, a 37 percent premium over the company's Monday closing of $31.72.
The deal gives Chevron significant access to approximately 486,000 net acres of...
Skadden Advises Chevron In $3.2B Atlas Energy Buy
To view the full article, take a free trial now.
