Daily GPI / E&P / NGI All News Access

Brief -- Gas Natural Inc.

Cleveland-based Gas Natural Inc. said the 42-day "go-shop" period, which allowed it to solicit other offers under its merger agreement with First Reserve, has expired. Seventy-eight potential buyers were contacted and six considered bids, but no other binding proposals were received. Private equity First Reserve agreed to acquire Gas Natural for about $13.10/share. The company serves about 69,000 customers in Maine, Montana, North Carolina and Ohio and its subsidiaries distribute 21 Bcf of natural gas. Pending regulatory approval the merger should be completed in late 2017.

ISSN © 2577-9877 | ISSN © 1532-1231

Recent Articles by Jamison Cocklin

Comments powered by Disqus