MPLX LP recently completed its acquisition of Andeavor Logistics LP (ANDX) in a unit-for-unit transaction (with a blended exchange ratio of 1.07 times) and assumption of approximately $5 billion of debt.
“We are pleased to close our acquisition of Andeavor Logistics,” said Gary R. Heminger, MPLX chairman and CEO. “This transaction allows MPLX to further progress its strategic vision of creating a leading, large-scale, diversified midstream company anchored by fee-based cash flows.”
ANDX unaffiliated common unitholders representing a majority of the common units held by unaffiliated holders submitted consents in favor of the transaction.
For more information, visit www.MPLX.com or call (419) 421-2414.