Atlas Energy (ATLS) announced Wednesday morning that it agreed to acquire 100% of the equity interests of TEAK Midstream,L.L.C., a privately owned midstream operator, for $1 billion in cash. The transaction is expected to close in the second quarter of 2013.
Atlas Energy gapped open sharply higher Wednesday and has spiked to the upside in early trade. Shares are now up 5.15 at $50.12. The stock has surged to a new high for the year.
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