A Kansas City-based pipeline operator has agreed to a $7 billion merger with an affiliated company.
The Kansas City Star reports that Inergy L.P. agreed Monday to the merger with Houston-based Crestwood Midstream Partners L.P.
The buyout involves a series of cash-and-stock transactions and will result in Crestwood Holding, which is affiliated with Inergy, taking over Inergy and a related company, Inergy Midstream L.P.
Crestwood Midstream is controlled by the private equity firm First Reserve, which owns all of Crestwood Holdings and about 43 percent of Crestwood Midstream.
A statement from both companies said the transaction requires shareholder and regulatory approvals, and is expected to be completed in the third quarter this year.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.