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Oil & Gas Equipment & Services M&A image Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Sat., Sep. 19, 11:03 AM Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.

Slide #60. Plains All American Pipeline, L.P. PAA Natural Gas Storage, L.P.

Acquirer: Plains All American Pipeline, L.P. (PAA)
Acquiree: PAA Natural Gas Storage, L.P. (PNG)
Details: Plains All American Pipeline, L.P. (NYSE:PAA) today announced that it has submitted a proposal to the independent directors of the board of directors of the general partner of PAA Natural Gas Storage, L.P. (NYSE:PNG) to acquire all of PNG's outstanding publicly-held common units through a unit-for-unit exchange. PAA is proposing consideration of 0.435 common units of PAA for each issued and outstanding publicly-held PNG common unit in a transaction that would be structured as a merger of PNG with a wholly-owned subsidiary of PAA. The proposed consideration represents a value per PNG common unit of $22.74 based on the trailing 10-day average closing price of PAA's common units through August 26, 2013.

Plains All American Pipeline is a holding company. Through its subsidiaries, Co. owns and operates midstream energy infrastructure and provides logistics services mainly for crude oil, natural gas liquids (NGL) and natural gas. Co. has three operating segments: Transportation, which provides activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges; Facilities, which provides storage, terminalling and throughput services primarily for crude oil, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services; and Supply and Logistics, which provides merchant-related activities.

Open the PAA Page at The Online Investor »

Plains All American Pipeline is a holding company. Through its subsidiaries, Co. owns and operates midstream energy infrastructure and provides logistics services mainly for crude oil, natural gas liquids (NGL) and natural gas. Co. has three operating segments: Transportation, which provides activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges; Facilities, which provides storage, terminalling and throughput services primarily for crude oil, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services; and Supply and Logistics, which provides merchant-related activities.

Open the PNG Page at The Online Investor »

Company Name: 
Plains All American Pipeline LP
Website: 
www.plainsallamerican.com
Sector: 
Oil & Gas Equipment & Services
Number of ETFs Holding PAA: 
5
Total Market Value Held by ETFs: 
$6.93M
Total Market Capitalization: 
$5.16B
% of Market Cap. Held by ETFs: 
0.13%
Company Name: 
PAA Natural Gas Storage L P
Website: 
www.pnglp.com
Sector: 
Oil & Gas Equipment & Services
 

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