COMPANY NEWS: Dominion expands E&P portfolio with Louis Dreyfus deal

09/24/2001
US merger and acquisition activity was given another shot in the arm in recent weeks with the announcement of a multibillion-dollar merger deal between Domin ion Resources Inc., Richmond, Va., and Oklahoma City-based Louis Dreyfus Natural Gas Corp. (LDNG). Dominion plans to acquire LDNG in a deal worth $2.3 billion in cash, stock, and assumed debt that will increase Dominion's natural gas reserves 60% and expand its fast-growing energy trading business, Dominion said.Elsewhere, the creation of yet another supermajor oil company was given the nod by US regulators, provided the two firms-Chevron Corp. and Texaco Inc.-follow the approved asset divestiture plan.In the downstream sector, m...
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