Rice Energy agrees to buy Vantage Energy for $2.7 billion

Rice Energy Inc. shares fell more than 3% late Monday after the Canonsburg, Penn., energy company said it has agreed to buy Vantage Energy for $2.7 billion, including debt. The deal is expected to close in the fourth quarter. In connection with the planned deal, Rice’s logistics and midstream arm, Rice Midstream Partners LP , will buy the acquired midstream assets from Rice Energy for $600 million. “This acquisition adheres to our proven strategy of pursuing core shale gas acreage,” Rice Energy CEO Daniel J. Rice IV said in a statement. Rice shares had ended the regular session up 0.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply