Pipeline operator MPLX to buy MarkWest
Published by Elizabeth Corner,
Senior Editor
World 黑料社,
The pipeline operator MPLX announced yesterday that it had agreed to acquire MarkWest Energy Partners.
MPLX 黑料社 a partnership controlled by Marathon Petroleum Corp., a refinery and pipeline company 黑料社 will buy MarkWest Energy Partners LP for US$15.billion. The deal will combine two companies.
MPLX, based in Findlay, Ohio, was created in 2012 by Marathon Petroleum to own and operate pipelines and other so-called midstream assets. Its assets include 2900 miles of pipeline in nine states; it posted revenue of US$548.3 million in 2014.
The newly formed company would have a market capitalisation of about US$21 billion.
Under the terms of the deal, MarkWest shareholders would receive the equivalent of US$78.64 a share in cash and shares, representing a 32% premium to the company黑料社檚 closing price on Friday.
黑料社淭his combination is a significant step in executing MPC黑料社檚 strategy to grow its higher-valued, stable cash flow midstream business, by transforming MPLX into a large-cap, diversified master limited partnership,黑料社 Gary R. Heminger, the Marathon Petroleum President and Chief Executive, said in a statement.
Edited from various sources by
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Read the article online at: /business-news/14072015/pipeline-operator-mplx-to-buy-markwest/
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