All for One and One for All: Energy Transfer Closes Its Merger as Expected
Energy Transfer will begin trading as one entity on Oct. 19 after 98.2% of Energy Transfer Partners' common unitholders approved the proposed $27 billion merger. We are reaffirming our $22 per unit value for Energy Transfer Equity, which will be the surviving entity. We think this is an attractive price for a partnership yielding 5.5% as of mid-October.The long-anticipated transaction relieves burdens on both entities, creating what we consider a win-win. ETP unitholders received a 28% premium ...
Energy Transfer Partners, through its subsidiaries, conduct activities such as natural gas operations; and interstate natural gas transportation and storage; and crude oil, natural gas liquid and refined product. The company's segment includes: Intrastate Transportation and Storage, which owns and operates a natural gas open-access interstate pipeline network; Midstream, which consists of natural gas gathering, compression, treating, processing, storage, and transportation; NGL and Refined Products Transportation and Services, which transport, store and execute acquisition and marketing activities utilizing a network of pipelines, storage and blending facilities.
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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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