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CNX Resources completes $357M merger with CNX Midstream

CNX Resources Corp. completed the previously announced acquisition of all outstanding common units of its midstream subsidiary CNX Midstream Partners LP that it did not already own in exchange for roughly $357 million of CNX Resources shares.

The NYSE suspended CNX Midstream common units from trading as a result of the merger, according to a Sept. 28 news release.

At the time of the deal announcement, CNX Resources said it plans to issue about 37 million shares, or about 17%, of the total shares outstanding of the combined entity.

CNX Resources explores, develops, and produces natural gas with operations focused in the Appalachian Basin.