DENVER (AP) - Natural gas transmission company MarkWest Energy Partners LP
said Monday it is publicly offering 5 million shares of common stock for $32.44
apiece.
The company expects proceeds of about $155.7 million will be use to
partially fund the 2008 capital budget. A portion of the net proceeds will also
be used to pay debt.
Underwriters have a 30-day option to buy up to 750,000 additional shares.
Lehman Brothers and Morgan Stanley will be joint book-running managers for
the offering.
Shares of MarkWest fell $2.62, or 8 percent, to $30 in after-hours trading
after rising 18 cents to close at $32.62 during the regular trading session.
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