Green Plains Inc. and Green Plains Partners LP Announce Definitive Merger Agreement; Each Outstanding Common Unit Will Be Converted Into The Right To Receive 0.405 Shares Of Stock And $2.00 In Cash
Portfolio Pulse from Benzinga Newsdesk
Green Plains Inc. (GPRE) and Green Plains Partners LP (GPP) have announced a definitive merger agreement. GPRE will acquire all publicly held common units of GPP not already owned by GPRE and its affiliates in exchange for GPRE common stock and cash. The merger is expected to simplify GPRE's corporate structure, generate near-term earnings and cash flow, reduce SG&A expense related to GPP, and improve the credit quality of the combined enterprise. The transaction is expected to close in Q4 2023.
September 18, 2023 | 12:34 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Green Plains Partners LP is set to be acquired by Green Plains Inc. in a merger agreement. The partnership's common units will cease to be listed on Nasdaq following the transaction.
The merger will result in GPP becoming an indirect wholly owned subsidiary of GPRE and GPP's common units will cease to be listed on Nasdaq. This is likely to have a negative impact on GPP's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Green Plains Inc. is set to acquire all publicly held common units of Green Plains Partners LP not already owned by it. This merger is expected to simplify its corporate structure and improve its credit quality.
The merger will simplify GPRE's corporate structure and governance, generate near-term earnings and cash flow, reduce SG&A expense related to GPP, and improve the credit quality of the combined enterprise. This is likely to have a positive impact on GPRE's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100