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Mergers & Acquisitions Deal Analysis - Consol Energy to Acquire Remaining Shares of CNX Gas
GlobalData, May 2010, Pages: 8
Mergers & Acquisitions Deal Analysis - Consol Energy to Acquire Remaining Shares of CNX Gas
Summary
Consol Energy, Inc. (Consol Energy) entered into an agreement to commence a tender offer for the acquisition of all the shares of CNX Gas Corporation (CNX Gas), at a price of $38.25 per share in cash. T. Rowe Price Associates, Inc., an investment banking firm, has agreed to tender its shares of CNX Gas’ common stock that its investment advisory clients own into the offer.
The tender offer price of $38.25 per share represents a 24% premium on the closing price of $30.80 on March 19, 2010, and a 46% premium based upon the closing price of $26.23 on March 12, 2010. Consol Energy currently owns around 83.3% of the approximately 151 million shares of CNX Gas common stock outstanding.
Consol Energy plans to finance the acquisition of CNX Gas’ shares by means of a combination of internally generated funds, borrowings under its credit facilities and/or offerings of securities. Consol Energy's intended offer would be made directly to CNX Gas stockholders and would be subject to certain customary terms and conditions that must be satisfied or waived for the tender offer to be completed.
Scope
- Rationale behind ConocoPhillips' acquisition of CNX Gas Corporation
- Strategic Benefits for CNX Gas Corporation to merge with ConocoPhillips
- Geography covered - US
- Deal Financials and Valuations
- Information on ConocoPhillips and CNX Gas Corporation 's assets
Reasons to buy
- Develop a sound undestanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
- Know about the major companies, which are adopting a divestment or acquisition strategy to enhance their business portfolios
- Learn about the key fiancial advisors in a particular segment in the Oil & Gas Industry
- Understand the various means of raising funds from the market.
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