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Antero Midstream GP to buy Antero Midstream Partners

Oct. 09, 2018 7:28 AM ETAntero Midstream Corporation (AM) StockBy: Carl Surran, SA News Editor25 Comments
  • Antero Midstream GP (AMGP) agrees to acquire all outstanding common units of Antero Midstream Partners LP (AM), including shares held by Antero Resources (AR), in an attempt to simplify the company's structure.
  • AMGP will convert into a corporation and the combined entity will be renamed Antero Midstream Corp.
  • AM public unitholders will receive a combination of $3.415 in cash and 1.635 shares of New AM stock per AM unit owned, valuing the company at $31.41/unit.
  • The new AM plans to target a dividend of $1.24/share in 2019 and dividend growth of 29% in 2020 and 20% in both 2021 and 2022.

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