Newspaper article THE JOURNAL RECORD

SemGroup to Buy Rose Rock Midstream

Newspaper article THE JOURNAL RECORD

SemGroup to Buy Rose Rock Midstream

Article excerpt

TULSA - SemGroup Corp. has agreed to buy all Rose Rock Midstream outstanding common units it does not already own.

Tulsa-based SemGroup said it will buy the shares in a stock-for- unit transaction at a ratio of 0.8136 SemGroup common shares for each Rose Rock common unit.

SemGroup owns 56 percent of the Rose Rock common units, which is sufficient to approve the transaction.

"We expect the transaction will simplify our corporate capital structure and deliver several important benefits to our shareholders," said Carlin Conner, president and CEO of SemGroup.

"We anticipate that Rose Rock's businesses, already managed by SemGroup, will enhance our combined credit profile, dividend coverage and future dividend growth rate beyond 2016," Conner said.

The transaction will be a taxable event to Rose Rock unitholders. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.