M&A
confidence high
sentiment positive
materiality 0.75
DT Midstream closes $552M acquisition of additional 26.25% stake in Millennium Pipeline, now owns 52.50%
DT Midstream, Inc.
- Purchased 26.25% interest from National Grid for $552M; financed with cash and revolver.
- Millennium Pipeline is a 263-mile interstate pipeline serving Marcellus/Utica gas markets.
- CEO David Slater says acquisition aligns with strategic thesis and accelerates growth plan.
- Pipeline interconnects with DT Midstream's Bluestone Gathering Lateral and Susquehanna Gathering System.
- Lazard and Shearman & Sterling served as financial and legal advisors.