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Monday, September 29, 2014

Encana to purchase Athlon Energy for $5.93 bln, (NYSE: ATHL)

Encana Corp , Canada's largest natural gas producer, said it would purchase Athlon Energy Inc for $5.93 billion in cash, excluding debt. Encana, which is shifting its focus to high-value oil and natural gas liquids, will also assume Athlon's $1.15 billion of senior notes.

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 683331.