Energy Transfer LP ET said Wednesday it would pay 2.07 common units for each unit of Crestwood Equity Partners LP CEQP in an all-equity deal valued at $7.1 billion, including the assumption of $3.3 billion of debt. Based on Energy Transfer’s closing unit price of $12.56 per unit on Tuesday, the deal values Crestwood Equity Partners at about $26 per unit, in line with its closing price of $26.19 on Tuesday. The deal is expected to close in the fourth quarter. Crestwood Equity common unitholders will own about 6.5% of Energy Transfer’s common units. Energy Transfer units were down 0.2% in premarket trades. Crestwood Equity was up 3% in premarket trades.
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