Summit Midstream shares are trading higher. The company announced it will acquire Tall Oak Midstream Operating, LLC and its subsidiaries from an affiliate of Tailwater Capital for $155 million in cash plus common stock.
Portfolio Pulse from Benzinga Newsdesk
Summit Midstream shares are trading higher following the announcement of its acquisition of Tall Oak Midstream Operating, LLC and its subsidiaries for $155 million in cash plus common stock.
October 02, 2024 | 5:28 pm
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Summit Midstream Partners, LP (SMLP) announced the acquisition of Tall Oak Midstream Operating, LLC for $155 million in cash and common stock, leading to a rise in its share price.
The acquisition is a significant strategic move for Summit Midstream, likely to enhance its operational capabilities and market position. The market has reacted positively, as evidenced by the rise in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100