Deals
Energy Transfer to Buy Regency Energy in $11 Billion Deal
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Energy Transfer Partners LP agreed to buy Regency Energy Partners LP, a pipeline company it controls, streamlining the organization at a time of plunging oil and natural gas prices.
The cash-and-stock deal values Regency at about $11 billion, a 13 percent premium based on the Jan. 23 closing price, the companies said in a joint statement Monday. Holders will get 0.4066 units of Energy Transfer plus a cash payment of 32 cents a unit. Energy Transfer Equity LP controls Regency through ownership of its general partner and already owns about 22 percent of the publicly traded units, according to data compiled by Bloomberg.