UGI Corporation to Purchase 75% of AmeriGas It Doesn't Own
We are increasing our AmeriGas fair value estimate to $34 per unit after UGI Corporation announced plans to acquire the remaining AmeriGas shares it doesn't own for $2.44 billion. UGI will pay $7.63 in cash and 0.5 shares of UGI for each common unit of AmeriGas, a 12.5% premium to AmeriGas' April 1 closing price.As of early trading April 2, the implied valuation of the takeover is roughly $34 per share, or a $2.00 per unit increase to our standalone estimate for AmeriGas. Our no-moat and negati...
AmeriGas Partners is a holding company. Through its operating partnership, AmeriGas Propane, L.P., the company is engaged as a retail propane distributor. The company serves residential, commercial, industrial, agricultural, wholesale and motor fuel customers from several propane distribution locations. In addition to distributing propane, the company also sells, installs and services propane appliances, including heating systems and propane-powered generators. As part of its overall transportation and distribution infrastructure, the company operates as an interstate carrier throughout the continental U.S.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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