Deals
EQT, Chesapeake Are Among Suitors for Alta Resources
- Natural gas-focused business working with adviser on sale
- EQT CEO Rice has extolled logic of industry consolidation
Photographer: Daniel Acker/Bloomberg
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Alta Resources, a closely held natural gas explorer, has drawn interest from potential buyers including EQT Corp. and Chesapeake Energy Corp., according to people familiar with the matter.
EQT and Chesapeake are weighing offers for Houston-based Alta that could value the company at more than $3 billion, said the people, who asked to not be identified because the matter is private. Alta, whose backers include the Blackstone Group Inc.’s credit arm, is working with an adviser on a potential sale, the people said.