Martin Midstream Partners L.P. announces termination of merger agreement and cancellation of special meeting
Published by Alfred Hamer,
Editorial Assistant
World Pipelines,
Martin Midstream Partners L.P. has announced the termination of the previously announced Agreement and Plan of Merger dated 3 October 2024, with Martin Resource Management Corporation (MRMC), pursuant to which MRMC would have acquired all of the outstanding common units of MMLP not already owned by MRMC and its subsidiaries. The Merger Agreement was terminated by the mutual written consent of MRMC and MMLP (with the approval of the Conflicts Committee of the Board of Directors of Martin Midstream GP LLC (the General Partner) pursuant to the terms of the Merger Agreement. MMLP will continue to operate as a standalone publicly traded company.
MMLP also announced the cancellation of its special meeting of unitholders scheduled for 30 December 2024 and the withdrawal from consideration by MMLP unitholders of the proposals set forth in MMLP’s definitive proxy statement filed with the Securities and Exchange Commission on 27 November 2024.
Bob Bondurant, President and Chief Executive Officer of the General Partner said, “We appreciate the feedback we have received from unitholders during our extensive outreach and engagement over the last several weeks. We greatly value unitholders’ perspectives and are pleased that unitholders have confidence in the future of MMLP as a standalone company. We will continue to focus on executing our long-term strategy, including strengthening the balance sheet through debt reduction and improving operating results, to create value for unitholders.”
Read the article online at: https://www.worldpipelines.com/business-news/06012025/martin-midstream-partners-lp-announces-termination-of-merger-agreement-and-cancellation-of-special-meeting/
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