Chevron jumps into Marcellus shale

摘要

Global integrated energy company Chevron Corp. (NYSE: CVX) is staking a 486,000-acre claim in the Marcellus shale with the acquisition of Pittsburgh-based Atlas Energy Inc. (Nasdaq: ATLS) for $4.3 billion in cash and debt. San Ramon, Calif.-based Chevron will pay in aggregate $43.34 per Atlas share, a 37% premium to its Nov. 8 closing price, and assume $1.1 billion in Atlas debt. Atlas shareholders will receive $38.25 in cash per share plus a distribution of 41 million units of Atlas Pipeline Holdings LP (NYSE: AHD) valued at some $5.09 following a restructuring.