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Atlas America, Atlas Energy merger on track to close in third quarter
By Lisa Kerner
Charlotte, N.C., Sept. 25 - Shareholders of Atlas America, Inc. and unitholders of Atlas Energy Resources, LLC voted to approve a merger of an Atlas America subsidiary and Atlas Energy at separate special meetings on Friday.
Atlas America stockholders approved the issuance of 1.16 shares of Atlas America common stock in exchange for each class B common unit of Atlas Energy.
Once the merger is completed, Atlas America will be named Atlas Energy, Inc.
The transaction is expected to close in the third quarter of 2009.
In April, the companies announced they will combine in order to simplify their organizational structure and create "a more attractive investment opportunity with a larger public float."
Atlas America owns approximately 48% of the common unit interests and all of the management incentive interests in Atlas Energy.
Both companies are based in Moon Township, Pa., and develop and produce natural gas and oil.
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