secwatch.observer — SEC 8-K summary
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Issuer:     DT Midstream, Inc. (DTM)
CIK:        0001842022
Form:       8-K
Filed at:   2022-09-29T23:59:59+00:00
Accession:  0000947871-22-001030
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DT Midstream to acquire additional 26.25% stake in Millennium Pipeline for $552M cash
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- Acquisition from National Grid raises DT Midstream's total ownership in Millennium Pipeline to 52.50%.
- Transaction valued at approximately $552 million; financed with cash on hand and revolving credit facility.
- Expected to close in Q4 2022, subject to HSR and other regulatory approvals.
- Transaction multiple of 10x 2023 Adjusted EBITDA; immediately accretive to earnings.
- Incremental 2022 Adjusted EBITDA contribution estimated at $12-14 million.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842022/000094787122001030/0000947871-22-001030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842022/000094787122001030/ss1377816_8k.htm
  HTML page:      https://secwatch.observer/filing/0000947871-22-001030

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