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US: Leading natural gas co gets OK to transfer business

By  |  April 25, 2013

A leading gas company has announced approval from the Federal Trade Commission for its planned transfer of its gas distribution business to Peoples Natural gas. EQT Corporation will transfer its Equitable Gas Company, LLC, after the waiting period for the deal expired without contest or request for additional information. The deal, first announced last December, will land $720 million in the hands of EQT; the company is expected to reinvest the profits made into its expanding natural gas production business.

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