On Monday, CNX Resources Corp. announced it is acquiring all outstanding common shares of CNX Midstream Partners LP, at a cost of about $357 million in CNX common stock, according to the Observer-Reporter.
The company expects the deal to close in the fourth quarter.
“We expect the combined entity to be an even stronger company, with a lower cost of capital and increased investable free cash flow, and we believe the transaction provides significant value for CNX and CNXM stakeholders, creating a best-in-class company,” the company said in a news release.
Learn more: Observer-Reporter > CNX making $357 million acquisition
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