Market Overview

Atlas Energy Shareholders Approve Merger with Chevron

Atlas Energy, Inc. (NASDAQ: ATLS) announced today that its shareholders have approved the pending merger between Atlas Energy and Chevron Corporation (NYSE: CVX).

The proposal to approve the merger was supported at a special meeting of shareholders by approximately 99.7% percent of the votes cast by Atlas Energy shareholders. The merger is expected to close promptly.

On November 8, 2010, Atlas Energy entered into a definitive agreement to be acquired by Chevron in a transaction valuing Atlas Energy at $4.3 billion. Upon closing, Atlas Energy shareholders will receive $38.25 in cash for each outstanding share owned upon the effective time of closing, and will also receive a pro-rata share of a distribution of over 41 million common limited partnership units of Atlas Pipeline Holdings, L.P. (NYSE: AHD).

Posted-In: News M&A

 

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