Atlas Energy (ATLS) announced Wednesday morning that it agreed to acquire 100% of the equity interests of TEAK Midstream LLC, 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 up sharply Wednesday and climbed steadily during the first hour of trade. The stock finished with a gain of 5.03 at $50.00 on the highest volume of the year. Atlas Energy surged to a new high for the year.
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