We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.1500.0%Jan 31 12:00 AM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: richardred who wrote (2927)10/17/2011 10:36:11 AM
From: richardred  Read Replies (1) of 6545
AmeriGas Agrees to Purchase Energy Transfer Propane Unit for $2.8 Billion

AmeriGas Partners LP (APU), the largest retail propane distributor, will buy the propane operations of Energy Transfer Partners LP (ETP) for $2.8 billion, the companies said today.

AmeriGas will pay $1.5 billion in cash, $1.3 billion in common stock and assume $71 million in debt in Energy Transfer’s two propane units, Heritage Operating LP and Titan Energy Partners LP, Energy Transfer said in a statement today.

The transaction is expected to close by early 2012. Energy Transfer will own about 34 percent of AmeriGas common stock, which it has agreed to hold until at least 2013, according to the statement.

The acquisition will add more than 1 million retail propane customers and more than 500 million gallons to AmeriGas’s propane operations, according to an AmeriGas statement.

(The companies have scheduled a conference call for 3:30 p.m. New York time. A live webcast will be available at
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext