Stalking Horse Bidder Rice Energy Thrown By Rival In The Marcellus

摘要

Rice Energy Inc. (NYSE: RICE) ended up an also-ran to acquire core Marcellus and Utica acreage in central Greene County, Pa. On April 12, Rice entered into a stalking horse agreement with a subsidiary of bankrupt Alpha Natural Resources Inc. to buy the acreage for $200 million. However, at a May 16 auction an unidentified third-party outbid Rice with a price of $339.5 million for the acreage.