Ferrellgas Partners to Acquire Bridger Logistics; Announces Distribution Increase
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Ferrellgas Partners (FGP) to Acquire Bridger Logistics in $837.5M Deal
June 1, 2015 8:45 AM EDTFerrellgas Partners (NYSE: FGP) announced that it has entered into a definitive purchase and sale agreement to acquire Dallas-based Bridger Logistics, LLC, a provider of integrated crude oil midstream services, for a purchase price of approximately $837.5 million, subject to certain closing adjustments. In conjunction with this transaction, Ferrellgas also announced that its Board of Directors has approved a $0.0125 increase in its quarterly distribution rate to $0.5125 per FGP common unit ($2.05 on an annualized basis), effective following the closing of the transaction.
Founded in 2010, Bridger owns and operates assets across the midstream value chain and can... More
