Chevron completes $4.3B purchase of Atlas Energy

NEW YORK (AP) — Chevron Corp. said Friday it has completed the $4.3 billion acquisition of Atlas Energy following the approval by Atlas stockholders earlier this week.

Chevron, which is based in San Ramon, Calif., announced the deal in November, saying it wanted access to Atlas’ natural gas assets in Marcellus Shale, which stretches along the Appalachians.

Atlas shareholders nearly unanimously approved the deal. They will receive $38.25 in cash for each outstanding share along with units of Atlas Pipeline Holdings LP.

In related news Friday, Atlas Pipeline Holdings LP said it will change its name to Atlas Energy LP, effective on or about Feb. 23. It will trade on the New York Stock Exchange under the ticker symbol “AHD.”