Deals
Enterprise to Buy Enterprise GP for Over $8 Billion
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Enterprise Products Partners LP, the largest U.S. pipeline operator, agreed to buy Enterprise GP Holdings LP for more than $8 billion, combining two of the partnerships founded by the late billionaire Dan Duncan.
Owners of Enterprise GP will receive 1.5 Enterprise Products units for each of their units, the Houston-based partnerships said today in a statement. The transaction will reduce Enterprise Products’ cost of capital by eliminating special rights that Enterprise GP has to distributions from the partnership, according to the statement.