Höegh LNG Partners gets $4.25/unit buyout offer

• Höegh LNG Partners (NYSE:HMLP) says it received a buyout proposal from Höegh LNG Holdings to acquire all publicly held common units for $4.25/unit in cash.
• The proposal would take effect through a merger between the Partnership and a subsidiary of Höegh LNG.
• The offer requires approval by the HMLP Conflicts Committee, the HMLP board and the Höegh LNG board, followed by the vote by a majority of outstanding common units in the partnership.
• A contractual dispute that obstructed an otherwise routine debt refinancing nearly forced Höegh LNG Partners into bankruptcy earlier this year.