Stocks Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.
Energy Transfer (ET) is a pipeline operator that has made headlines today for its bullish market movement. The company has announced its acquisition of Crestwood Equity Partners in a deal valued at $7.1 billion, including the assumption of $3.3 billion in debt. This acquisition will expand Energy Transfer's natural-gas and crude-oil network, as well as provide entry into the Powder River Basin.
ET stock is up 2.0% on Aug 16, 2023 14:01
The move will expand Energy Transfer’s natural-gas and crude-oil network.
https://www.wsj.com/articles/energy-transfer-to-acquire-crestwood-equity-partners-for-7-1-billion-d042254f
Aug 16 ( Reuters ) - Pipeline operator Energy Transfer ( ET.N ) said on Wednesday it will buy Crestwood Equity Partners ( CEQP.N ) in a deal valued at about $7.1 billion, including $3.3 billion in debt.
https://www.reuters.com/markets/deals/energy-transfer-buy-crestwood-71-billion-deal-2023-08-16/
The all-equity transaction, which includes the assumption of $3 billion of Crestwood debt, adds infrastructure in the Williston and Delaware basins and also provides Energy Transfer with an entry into the Powder River Basin.
https://www.hartenergy.com/exclusives/energy-transfer-acquire-crestwood-equity-partners-71-billion-206168
Energy Transfer LP ET said Wednesday it would pay 2.07 common units for each unit of Crestwood Equity Partners LP CEQP in an all-equity deal valued at $7.1 billion, including the assumption of $3.3 billion of debt. Based on Energy Transfer’s closing unit price of $12.56 per unit on Tuesday, the deal values Crestwood Equity Partners at about $26 per unit, in line with its closing price of $26.19 on Tuesday. The deal is expected to close in the fourth quarter. Crestwood Equity common unitholders will own about 6.5% of Energy Transfer’s common units. Energy Transfer units were down 0.2% in premarket trades. Crestwood Equity was up 3% in premarket trades. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
https://www.marketwatch.com/story/energy-transfer-buying-crestwood-equity-partners-in-unit-for-unit-deal-78127cf7?siteid=rss
Energy Transfer (ET) said it agreed to acquire Crestwood Equity Partners (CEQP) in an all-stock deal valued at ~$7.1B, including the assumption of $3.3B of debt.
https://seekingalpha.com/news/4003393-energy-transfer-to-buy-crestwood-equity-partners-in-71b-all-stock-deal
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