- Energy Transfer to Acquire Enable euro-petrole.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euro-petrole.com Daily Mail and Mail on Sunday newspapers.
Energy Transfer LP said on Wednesday it would buy Enable Midstream Partners to strengthen its natural gas transportation business as it faces a legal battle that could shut its Dakota Access crude pipeline.
Energy Transfer LP said on Wednesday it would buy Enable Midstream Partners to strengthen its natural gas transportation business as it faces a legal battle…
U.S. pipeline operator Energy Transfer (
ET) - Get Report agreed to buy rival Enable Midstream Partners (
The deal value is about $7.2 billion including debt.
Under the terms Enable holders would receive about 0.86 Energy Transfer share for each of their units.
Energy Transfer shares closed on Tuesday at $6.96. Based on that close, 0.86 share would be valued at $5.99. Enable Midstream shares at last check were down 7.7% at $6.01.
Energy Transfer shares on Wednesday were trading off 1.4% at $6.86.
Additionally, each Enable Series A preferred share would be swapped for 0.027 Series G preferred unit of Energy Transfer.
And the transaction includes a $10 million cash payment to Enable s general partner.
Press release content from Business Wire. The AP news staff was not involved in its creation.
CenterPoint Energy Announces Its Support of the Proposed Merger Between Enable Midstream Partners, LP and Energy Transfer LP
February 17, 2021 GMT
HOUSTON (BUSINESS WIRE) Feb 17, 2021
CenterPoint Energy, Inc. (NYSE: CNP) today announced support for the merger between Enable Midstream Partners, LP (NYSE: ENBL) and Energy Transfer LP (NYSE: ET), which will result in an exchange of its investment in Enable Midstream Partners, LP in an at market, unit-for-unit transaction. CenterPoint Energy currently owns 53.7 percent of the common units representing limited partner interests in Enable, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets.