Entering text into the input field will update the search result below

Energy Transfer to buy SemGroup in $5B deal

  • Energy Transfer (NYSE:ET) agrees to acquire SemGroup (NYSE:SEMG) in a unit and cash deal valued at $17/share, or $5B including the assumption of debt.
  • The deal consists of $6.80 in cash and 0.7275 of an ET common unit for each outstanding SEMG common share, or 40% cash and 60% equity, representing a 65% premium to SEMG's Sept. 13 closing price.
  • ET says the acquisition will strengthen its crude oil transportation, terminalling and export capabilities with the addition of the Houston Fuel Oil Terminal, with 18.2M barrels of crude oil storage capacity.
  • The deal also expands ET's crude oil and natural gas liquids infrastructure by adding crude oil gathering assets in the DJ Basin in Colorado and the Anadarko Basin in Oklahoma, as well as crude oil and NGL pipelines connecting the DJ and Anadarko basins with crude oil terminals in Cushing, Okla.
  • SEMG +63.5%, ET +2.3% pre-market.

Recommended For You

Related Stocks

SymbolLast Price% Chg
SEMG
--
ET
--