• Apr. 6, 2015, 5:15 PM
    • Tesoro Logistics (NYSE:TLLP) agrees to acquire the 44% of QEP Midstream Partners (NYSE:QEPM) it does not already own, in a unit-for-unit exchange that values QEPM at $17.09/unit, an 8.6% premium to today's QEPM closing price of $15.74.
    • TLLP already owned a 55.8% interest in QEPM, consisting of ~3.7M common units and ~26.7M subordinated units, and 100% of the limited liability company interests of QEPM GP, which itself holds a 2% general partner interest and 100% of the incentive distribution rights in QEPM.
    Apr. 6, 2015, 5:15 PM | 3 Comments
  • Dec. 12, 2014, 4:38 PM
    • QEP Midstream Partners (NYSE:QEPM) spiked higher into the close after a 13D filing disclosed that Tesoro (NYSE:TSO) had acquired a 56.9% active stake in the company.
    • In the filing, Tesoro Logistics (NYSE:TLLP) proposes acquiring all outstanding units of QEPM not owned by QEPM or by QEP Field Services.
    Dec. 12, 2014, 4:38 PM | 3 Comments