Energy Transfer plans to acquire Vaquero Midstream for approximately $2.63 billion in cash and stock. The pipeline transportation company announced the deal on Tuesday, comprising $1.95 billion in cash and roughly 33.3 million newly issued Energy Transfer common units. The acquisition adds Vaquero Midstream's rapidly-growing midstream services business to Energy Transfer's portfolio.
The transaction is expected to close in the fourth quarter, pending regulatory approval and customary closing conditions.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing