Enterprise Products/Teppco
Enterprise Products Partners L.P. agreed to acquire Teppco Partners L.P. for $5.9 billion in equity and assumed debt on June 29, in a deal that would unite two energy pipeline companies controlled by Houston’s Dan Duncan. Enterprise Products first approached Teppco on March 9 and went public with a $2.8 billion cash and stock offer on April 29. Teppco acceded to a deal in which its shareholders will receive $3.3 billion in Enterprise Products partnership units. The buyer will also assume about $2.6 billion in debt. Both companies are master limited partnerships, a common structure in the energy industry.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
