On November 9, 2010 Atlas Energy, Inc. (NASDAQ: ATLS) announced a definitive agreement to be acquired by Chevron Corporation (NYSE: CVX) for $3.2 billion, net of $1.1 billion in debt that will also be assumed.
Under the terms of the agreement, Atlas Energy shareholders will receive consideration valued at $43.34 per share in total, a 37% premium to Atlas Energy’s closing share price on November 8.
Each Atlas Energy shareholder will receive $38.25 in cash plus a pro-rata share of a distribution of over 41 million units of Atlas Pipeline Holdings, L.P. (NYSE: AHD), which had a value of $5.09 per Atlas Energy share on November 8.
Jefferies & Company, Inc. is acting as lead financial advisor, and Deutsche Bank Securities, Inc. is serving as co-financial advisor, to Atlas Energy. Wachtell, Lipton, Rosen & Katz is legal advisor to Atlas Energy.
Goldman, Sachs & Co. is serving as financial advisor to Chevron, and Skadden Arps Slate Meagher Flom LLP is acting as legal advisor to Chevron.
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