Energy Company Energy Transfer Announces Merger With Crestwood Equity Partners
Portfolio Pulse from Benzinga Insights
Energy Transfer (NYSE:ET) has announced a merger with Crestwood Equity Partners (NYSE:CEQP) expected to be completed in Q4 of 2023. Energy Transfer will give Crestwood Equity Partners $7.10 billion in stock in exchange for CEQP stock.
August 16, 2023 | 3:10 pm
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NEUTRAL IMPACT
Crestwood Equity Partners is merging with Energy Transfer, receiving $7.10 billion in ET stock in exchange for its own stock. The merger is expected to be completed in Q4 2023.
The merger could potentially enhance Crestwood Equity Partners' market position. However, the short-term impact on the stock price is uncertain as the market will need time to assess the news and the merger's implications.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Energy Transfer is merging with Crestwood Equity Partners, offering $7.10 billion in stock for CEQP stock. The merger is expected to be completed in Q4 2023.
The merger could potentially strengthen Energy Transfer's position in the energy sector. However, the short-term impact on the stock price is uncertain as the market will need time to digest the news and the merger's implications.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100