Merger approved between Energy Transfer Partners and Energy Transfer Equity
Published by Lydia Woellwarth,
Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP) have announced that at a special meeting of ETP common unitholders held earlier this week, ETP’s common unitholders voted to approve and adopt the Agreement and Plan of Merger dated as of 1 August 2018 (Merger Agreement), pursuant to which ETP will merge with ETE (the merger).
Approximately 98.2% of the total ETP common units that were voted at the special meeting voted in favour of the merger. With a quorum voting, the Merger Agreement and merger were approved and adopted by the common unitholders.
The merger is expected to close on 19 October 2018. Following the closing, ETE will change its name to “Energy Transfer LP” and its common units are expected to begin trading on the New York Stock Exchange under the “ET” ticker symbol on Friday 19 October 2018. In addition, ETP will change its name to “Energy Transfer Operating, L.P.” ETP’s Series C preferred units and Series D preferred units will continue to be listed on the NYSE under the symbols “ETPprC” and “ETPprD”, respectively.
Read the article online at: https://www.worldpipelines.com/business-news/19102018/merger-approved-between-energy-transfer-partners-and-energy-transfer-equity/
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