Reliance Industries (RIL) is likely to challenge Chevron's bid for Atlas Energy, according to a letter disclosed by the U.S. natural gas producer in a filing with the US Securities and Exchange Commission. The company also stated that it would like to evaluate options including whether it could be able to create incremental value for Atlas.
Reliance had, in January 2011, sent a letter to Atlas Energy board asking why it was not given an opportunity to bid for Atlas Energy in spite of its interest in the company and substantial financial resources.
