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Oil and Gas Investor This Week,  March, 2008  by Investor, Gas

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[bullet] Coal-producing company Consol Energy Inc., Pittsburgh, (NYSE: CNX) has offered to acquire the remaining 18% stake that it does not currently own in E&P company CNX Gas Corp., Pittsburgh, (NYSE: CXG) for some $932 million in stock.

Consol now owns 81.7% of CNX. Consol is offering 0.4425 share per CNX share, or about $33.70 per share based on the Jan. 28 CNX closing price, a 12% premium. If the offer is accepted, Consol will merge CNX with a subsidiary.

J. Brett Harvey, Consol president and chief executive, says, "We have always believed that a diversified energy portfolio ...

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