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Mergers & Acquisitions Deal Analysis - Consol Energy To Acquire E&P Business in Appalachian For $3,475 Million
GlobalData, May 2010, Pages: 18
Mergers & Acquisitions Deal Analysis - Consol Energy To Acquire E&P Business in Appalachian For $3,475 Million
Summary
CONSOL Energy Inc agreed to acquire natural gas and oil exploration and production business from Dominion Resources Inc (Dominion) for a consideration of $3,475 million in cash. The transaction is subject to regulatory approvals and customary closing conditions and is expected to complete by April 30, 2010. J. Brett Harvey, president and chief executive officer, commented, “CONSOL Energy's acquisition of Dominion's Appalachian E&P business is a strategically compelling transaction that will transform CONSOL Energy into a leading diversified energy company with a strong position in natural gas as well as coal.' Barclays Capital Inc. is acting as financial advisor and Baker Botts L.L.P. is acting as legal advisor to Dominion, whereas Bank of America Merrill Lynch and Stifel, Nicolaus & Co., Inc. are acting as lead financial advisors and Wachtell, Lipton, Rosen & Katz, and Akin Gump Strauss Hauer & Feld LLP are acting as legal counsel to CONSOL Energy. BofA Merrill Lynch and PNC Bank are provided financing commitments to complete the acquisition. The transaction implies deal value of $185,613.78 per boe of daily production, $20.05 per boe of proved reserves and $6,950 per acre of land.
Scope
- Rationale behind Consol Energy Inc's acquisition of assets in the Appalacian Basin
- Strategic Benefits for Dominion Resources Inc. to divest its assets
- Geography covered - US
- Deal Financials and Valuations
- Information on Appalacian assets, Consol Energy Inc and Dominion Resources Inc
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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