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Expand Energy to Acquire Twin Eagle for $1.25 Billion in Cash

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Expand Energy (EXE) said Monday it has agreed to acquire Twin Eagle, a private asset-backed natural gas marketing and optimization business, for $1.25 billion in cash from Five Point Infrastructure.

The deal is expected to close in Q3, and is initially expected to contribute over $200 million of projected annual EBITDA and $150 million synergies annually by the end of 2028, the company said.

Expand Energy said it plans to fund the acquisition using cash on hand and borrowings from its revolving credit facility.

The merger creates value by improving Expand's marketing and commercial strategy, increasing its customer and market reach, and strengthening its finances, the company said.

Shares of the company were down 1% in premarket activity Monday.

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