- Dominion Energy (NYSE:D) offers to acquire all outstanding common units of Dominion Energy Midstream Partners (DM) it does not already own.
- Dominion's fixed exchange ratio offer of 0.2468 shares per DM common unit equates to a per-unit valuation of $17.75, representing an 8.2% premium to the 30-day volume-weighted average unit price.
- The company says continued weakness in MLP capital markets combined with the prolonged disruption in DM's unit price since the March 15 Federal Energy Regulatory Commission policy revision were key factors that led to its decision.
- D +0.4%, DM -2.2% after-hours.