- Boardwalk Pipeline Partners (NYSE:BWP) +2.6% after-hours as Loews (L) says the general partner elects to exercise its right to purchase all outstanding common units in BWP it does not already own.
- Loews says the GP will purchase the transaction units on July 18 for $12.06/unit, totaling ~$1.5B.
- The purchase price was based on the average of the daily closing prices for the units over 180 consecutive trading days ending on June 29.