1240 ET - The $1.25 billion that Expand Energy has agreed to pay for marketing concern Twin Eagle in its bid to become fully integrated across the natural gas supply chain looks appropriate for such businesses, Neal Dingmann and Bert Donnes of William Blair say in a note. But "while we understand the strategy behind today's acquisition, paying over a billion dollars for anything with minimal assets is tough to incorporate into our model versus organically growing such a business." Expand's integration strategy could become even more costly if the company is able to add midstream assets, they add. Expand shares are off 0.2%. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 27, 2026 12:40 ET (16:40 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.