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ArcLight Looking to Buy Out American Midstream Partners
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American Midstream Partners, LP has received a revised non-binding proposal from an affiliate of ArcLight Energy Partners Fund V LP in 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.
At $4.50 per share with 56,006,000 shares outstanding, the approximate value of the offer is ~$252 million.
The offer represents a premium of over 40% in regard to American Midstream's share price, which is currently hovering around $3.15/share.
The other proposed terms of the potential transaction remain as set forth in the original non-binding proposal announced on September 28, 2018.
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