Panhandle Eastern To Acquire Associated Natural Gas Corp.
Oct. 11, 1994
DENVER (AP) _ Panhandle Eastern Corp. has agreed to acquire Associated Natural Gas Corp. of Denver in a stock swap valued at $830 million, the companies announced.
The proposed deal, announced Monday, would combine Associated's localized natural-gas gathering, transmission and marketing operations with Panhandle's interstate-pipeline business.
Associated, which had $1 billion is sales last year, will operate as a subsidiary of Panhandle.