Nut Tree And Caspian Reiterate $4 Per Common Unit Offer Representing 31% Premium To Alternate Offer Made By Martin Resource Management Corp. For Martin Midstream Partners L.P.; Nut Tree And Caspian Call For Any Transaction With MRMC Be Subject To Approval Of Majority Of Unaffiliated Common Unit Holders
Portfolio Pulse from Benzinga Newsdesk
Nut Tree Capital Management LP and Caspian Capital LP have reiterated their offer to acquire Martin Midstream Partners L.P. (NASDAQ:MMLP) common units for $4.00 per unit, representing a 31% premium over an alternate offer by Martin Resource Management Corp. They call for any transaction with MRMC to be subject to approval by a majority of unaffiliated common unit holders.
July 19, 2024 | 2:36 pm
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Nut Tree and Caspian have reiterated their $4.00 per unit offer for MMLP, which is a 31% premium over MRMC's offer. They are pushing for any transaction with MRMC to require approval from a majority of unaffiliated common unit holders.
The reiterated offer from Nut Tree and Caspian at a 31% premium is likely to positively impact MMLP's stock price in the short term. The call for unaffiliated unit holder approval adds a layer of governance that could be seen as beneficial by investors.
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