Preferred unitholders wishing to vote on the election must deliver a properly completed election form to Equiniti Trust Company LLC by the election deadline. (Source: Shutterstock)
Midstream companies Energy Transfer and Crestwood Equity Partners set an Oct. 31 deadline for holders of Crestwood’s outstanding 9.250% perpetual preferred units to vote on their preferred form of merger consideration, the companies announced Oct. 23.
The election is amid Energy Transfer’s pending acquisition of Crestwood for $7.1 billion in an all-stock transaction on Aug. 18, according to a release. In the deal, Energy Transfer gains access to Crestwood’s assets in the Williston, Delaware and Powder River basins.
The election deadline was set according to both companies’ expectation that the acquisition deal, subject to the approval of Crestwood’s unitholders, will close on Nov. 3.
The release stated an election form was initially mailed on Sept. 29 to Crestwood preferred unitholders on record as of Sept. 22. Preferred unitholders wishing to vote on the election must deliver a properly completed election form to Equiniti Trust Company LLC by the election deadline.
Recommended Reading
WoodMac: $3.5 Trillion Needed Annually to Hit Net Zero Targets
2024-10-29 - Higher demand for oil, gas and coal will delay peak emissions past 2030 and push the world beyond Wood Mackenzie’s base transition case and closer to a 3 C pathway, the consultancy said in a new report.
‘Hydrogen is Happening’: Chevron Pushes Ahead Despite Industry Doubts
2024-11-06 - Facing a myriad of challenges that include policy uncertainty and costs, companies such as Chevron are moving forward with projects and partners to make progress.
DNV: Emissions Fall, Solar Soars, Oil Demand Shrinks 35% by 2050
2024-10-09 - The Norwegian risk manager spotlights the good and not so good in its latest global energy transition outlook, including predictions that half of all vehicles sold worldwide by 2031 will be electric.
Quaise, Partners to Retrofit Fossil Fuel Plant for Deep Geothermal
2024-12-04 - The Quaise Energy-Nevada Gold Mines partnership looks to retrofit a fossil fuel power plant into the first commercial plant changed to suit geothermal heat.
Johnson Matthey: Syngas Offers Path to Low-carbon Fuels, Hydrogen
2024-09-27 - With syngas, chemical makers like Johnson Matthey have hit a sweet spot in producing no- and low-carbon ammonia, hydrogen or sustainable aviation fuel.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.