Hess Midstream LP Announces Signing Of Accretive $100M Sponsor Unit Repurchase
Portfolio Pulse from Benzinga Newsdesk
Hess Midstream LP announced a $100 million repurchase of Class B units from its sponsors, Hess Corporation and Global Infrastructure Partners. The transaction was approved by the Board of Directors and the conflicts committee.
September 10, 2024 | 12:18 pm
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POSITIVE IMPACT
Hess Midstream LP is executing a $100 million repurchase of Class B units from its sponsors, which could positively impact its stock by reducing the number of outstanding units and potentially increasing earnings per share.
The repurchase of $100 million in Class B units is likely to reduce the number of outstanding units, which can lead to an increase in earnings per share and potentially boost the stock price. The unanimous approval by the Board and conflicts committee adds confidence to the transaction's positive impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100