Kinder Morgan (KMI) has tabled a $1.225 billion acquisition bid for Stagecoach Gas Services, a unit owned jointly by Consolidated Edison (ED) and Crestwood Equity (CEQP). The transaction should close in the third quarter, subject to regulatory approval under the Hart-Scott-Rodino Act. The unit that Kinder Morgan is acquiring consists of 4 storage facilities for the natural gas pipeline network. The purchase bid represents about ten times Stagecoach’s 2020 EBITDA. The acquisition should allow Kinder Morgan to enhance service delivery to customers in the Northeast market.  (See Kinder Morgan stock analysis on TipRanks). "These natural gas pipeline and storage facilities help connect natural gas supply sources and Northeast demand areas.
https://www.tipranks.com/news/kinder-morgan-to-snap-up-stagecoach-gas-for-1-2b
Crestwood Equity Partners (NYSE:CEQP)
Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more Crestwood Equity Partners Charts.
Crestwood Equity Partners (NYSE:CEQP)
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Crestwood Equity Partners Charts.