GasLog offers to buy GasLog Partners for $7.70/unit
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GasLog Partners (NYSE:GLOP) +9.6% pre-market Wednesday after GasLog Ltd. made an unsolicited non-binding proposal to acquire all outstanding units not already beneficially owned by GasLog Ltd.
According to an SEC filing, each common unit would receive overall value of $7.70/unit in cash, consisting in part of a special distribution of $2.33/unit in cash.
GasLog Ltd. currently owns more than 15.6M common units in GasLog Partners (GLOP).
GasLog Partners (GLOP) has "a big year ahead in 2023," DT Analysis writes in an article published on Seeking Alpha.
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Comments (105)
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You can't compare the two : Marinakis uses CPLP to sell his vessels at 10xEBITDA. This was no longer possible with GLOG/GLOP.


NO THANKS




$12 yes
$15 definitely yes$7.70 HELL NO!!!





(I have to pay 30% tax on the special distribution) :-)


Push dropdowns (=Transfer of assets from the GP to the MLP)Collapse the unit priceDeleverage the MLP to the sole benefit of the GPBuy the beaten-up MLP very cheaply


Like clockwork...


At the end of the day “this is an offer rate” which sort of a signal to the market to show intention of GLOG at such a low price. Market reacted by moving the stock up but I think that this is not a game that retail investors play.. maybe some funds, especially hedge funds, may increase the current price which is currently around $8 to put more pressure on GLOG to re-consider their offer rate but this is just a “maybe”opinion.
The float rate of GLOP has been increasing and that may explain the meaningless retraction from $8.55 to low $6. That is what I meant in my previous comment. But these are my humble opinion only not an investment advise.

