Summit Midstream To Acquire Tall Oak Midstream Operating, LLC And Its Subsidiaries From An Affiliate Of Tailwater Capital For $155M Upfront Cash Consideration Plus Common Stock
Portfolio Pulse from Benzinga Newsdesk
Summit Midstream is set to acquire Tall Oak Midstream Operating, LLC for $155M in cash and common stock, marking a significant growth milestone. The deal includes 7.5 million shares and is expected to close in Q4 2024, with additional contingent payments through 2026.
October 01, 2024 | 9:06 pm
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Summit Midstream's acquisition of Tall Oak Midstream for $155M in cash and stock is a strategic move to enhance growth. The deal involves 7.5 million shares and is expected to close in Q4 2024, with additional contingent payments through 2026.
The acquisition is a strategic move for Summit Midstream, indicating potential growth and value accretion. The involvement of 7.5 million shares and contingent payments suggests a significant impact on the company's financial structure and stock price.
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