Koch Industries to buy PetroLogistics for $2.1B

|About: PetroLogistics LP (PDH)|By:, SA News Editor

PetroLogistics (PDH) agrees to be acquired by Koch Industries subsidiary Flint Hills Resources for ~$2.1B.

Flint Hills will pay $14 in cash for each PDH unit, an 8.3% premium over yesterday's close, except for units owned by a few select investors to be acquired for $12 each.

PDH has propylene operations around the Houston Ship Channel, and has an annual production capacity of ~1.45B lbs.

PDH +10.2% premarket.