American Midstream receives revised buyout offer from ArcLight
HOUSTON, /PRNewswire/ -- American Midstream Partners, LP announced that the Board of Directors of American Midstream GP, LLC ("GP Board") has received a revised non-binding proposal from an affiliate of ArcLight Energy Partners Fund V, L.P. ("ArcLight"), directed to members of the Conflicts Committee of the GP Board, pursuant to which ArcLight would acquire all common units of the Partnership that ArcLight and its affiliates do not already own in exchange for a revised offer price of $4.50 per common unit.
The other proposed terms of the potential transaction remain as set forth in the original non-binding proposal announced on September 28, 2018.
The proposed transaction remains subject to a number of contingencies, including the approval of the Conflicts Committee of the GP Board, the approval by holders of a majority of the outstanding common units of the Partnership, and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction.
There can be no assurance that definitive documentation will be executed or that any transaction will materialize on the terms described above or at all.
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