Ferrellgas Partners L.PNYSE
Jun. 1, 2015, 8:29 AM
- Ferrellgas Partners (NYSE:FGP) agrees to acquire privately-held integrated crude oil midstream services provider Bridger Logistics for $837.5M, including $562.5M in cash and 11.2M units.
- FGP says the move positions it to significantly expand its midstream platform, and expects it to be immediately accretive and supportive of future distribution growth.
- FGP also announces a dividend increase to $0.5125/unit, $2.05 on an annualized basis, effective following the closing of the transaction.