Announced
Financials
Tags
transportation services
Merger
oil & gas
Public
Pending
Acquisition
United States
Single Bidder
Friendly
Offshore Drilling and Other Services
Private Equity
Synopsis
Arclight is set to acquire TransMontaigne Partners, an oil pipeline and terminal company based in Denver, Colorado, for $536m at a price of $41.00 per common unit. The merger consideration represents an increase of $3.00, or 7.9%, per common unit when compared to the offer of $38.00 per common unit made by Holdings on July 9, 2018 and a 12.6% premium to the $36.40 closing price per common unit on November 23, 2018. In addition, until the closing of the merger, the Partnership’s unitholders will continue to receive regular quarterly distributions of $0.805 per unit with respect to any completed quarter prior to the closing.
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