Big Law
Shell USA Will Acquire MLP in a $1.96 Billion Deal
Shell PLC (NYSE: SHEL) is the latest energy giant to roll up its master limited partnership.
Shell USA Inc. will acquire all of the common units representing limited partner interests in Shell Midstream Partners LP (NYSE: SHLX) held by the public for $15.85 each, the Houston-based companies announced July 25. That values the cash deal at approximately $1.96 billion.
On Feb. 11, Shell Pipeline Company LP had offered to acquire the SHLX units for $12.89 each, equal to the MLP’s closing price on Feb. 10.
