CNG to merge with Dominion Resources:
Consolidated Natural Gas Co.`s board of directors accepted a revised $6.4 billion offer from Dominion Resources and rejected an unsolicited offer of $6.68 billion from Columbia Energy Group due to its uncertainty and timing. The merger will create the nation`s fourth-largest electric and natural gas utility with more than 20,000 MW of power generation and about 3 Tcfe of natural gas and oil reserves producing more than 300 Bcfe annually.
