AcquisitionsJul 27, 2026, 07:06 AM
Expand Energy to Acquire Twin Eagle for $1.25B
AI Summary
Expand Energy Corporation announced a definitive merger agreement to acquire Twin Eagle Holdings N.A., LLC for $1.25 billion. This acquisition aims to create North America's leading integrated natural gas company by combining Expand's supply with Twin Eagle's marketing platform. The transaction is expected to be immediately accretive, contributing over $200 million in annual EBITDA and $150 million in synergies by 2028, and is anticipated to close in the third quarter of 2026.
Key Highlights
- Expand Energy to acquire Twin Eagle Holdings N.A., LLC for $1.25 billion.
- Transaction expected to close in Q3 2026, pending regulatory approvals.
- Funding through cash on hand and borrowings under revolving credit facility.
- Expected to contribute over $200 million in projected annual EBITDA.
- Anticipates $150 million per year in synergies by year-end 2028.
- Accelerates marketing strategy, increasing incremental free cash flow target to $750 million per year.
- Combined portfolio to market approximately 14 Bcf/d of natural gas.
- Combined portfolio to manage roughly 49 Bcf of storage capacity.
Price Impact
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