India's Reliance Industries (RELI.BO) might challenge Chevron's (CVX.N) bid for Atlas Energy (ATLS.O), according to a letter disclosed by the U.S. natural gas producer in a filing with the regulators. "We believe Reliance, as Atlas Energy's joint venture partner and a company with substantial financial resources, would have been the most natural and obvious potential transaction partner for Atlas Energy," the Reliance letter said. In April last year, Reliance agreed to pay $1.7 billion to Atlas to form a joint venture and own a 40 percent stake in Atlas' Marcellus Shale operations in the eastern United States. [ID:nN09123890] In November, Chevron announced plans to buy Atlas for $3.2 billion. [ID:nN09162177]
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