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Tuesday, February 8, 2011

Chevron to pay $7 mln in Atlas shareholder lawsuit, (NYSE: CVX), (NASDAQ: ATLS), (NYSE: AHD)

Chevron Corp (CVX.N) has settled a lawsuit against its proposed $3.2 billion Atlas Energy (ATLS.O) takeover by agreeing to pay an extra 10 cents per share to non-director shareholders in the U.S. natural gas producer. Excluding the approximately 4 percent of shares held by directors, the payment will total more than $7 million. The original Chevron offer, which will be put to a vote by Atlas shareholders in Philadelphia on Feb. 16, was $38.25 per share in cash plus a distribution of units in Atlas Pipeline Holdings (AHD.N) worth about $5.09 per share. [ID:nN09162177]

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