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Monday, September 29, 2014

Canada's Encana to purchase Athlon Energy for $5.93 bln, (NYSE: ATHL), (NYSE: TRI), (TSE: TRI.TO)

Canada's largest natural gas producer Encana Corp said on Monday it has agreed to purchase Athlon Energy for $5.93 billion in cash, as it accelerates its plan to focus on more lucrative oil and natural-gas liquids (NGLs).The deal, which gives Calgary-based Encana control of about 140,000 net acres in the oil-rich Permian Basin in Texas, adds another core region to the six shale fields where Encana is now concentrating its spending.The takeover will lead to a huge payday for Apollo Global Management. Athlon was formed in 2010 with the backing of the U.S. private equity firm, which still owns more than 30 percent of the company's stock, according to Thomson Reuters data.Fort Worth, Texas-based Athlon, which was taken public back in August 2013, raised just over $300 million via its IPO. The initial public offering (IPO) priced at $20 at the time and the stock began trading at $26 a share.

Athlon Energy Inc., is an independent exploration and production company. Shares of ATHL traded higher by 2.61% or $1.19/share to $46.73. In the past year, the shares have traded as low as $26.91 and as high as $51.63. On average, 1124720 shares of ATHL exchange hands on a given day and today's volume is recorded at 693353.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.3% or $0.11/share to $36.26. In the past year, the shares have traded as low as $33.21 and as high as $38.73. On average, 667726 shares of TRI exchange hands on a given day and today's volume is recorded at 679053.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.87% or $0.35/share to $40.49. In the past year, the shares have traded as low as $35.07 and as high as $42.10. On average, 635713 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 604668.



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