M&A
confidence high
sentiment neutral
materiality 0.70
Global Partners cuts Gulf Oil terminal deal to $212.3M, drops Portland terminal
GLOBAL PARTNERS LP
- Original $273M deal for five refined-products terminals amended; Portland, ME terminal removed.
- Purchase price reduced to $212.3M cash (plus customary adjustments) after FTC and Maine AG concerns.
- Remaining terminals: New Haven CT, Thorofare NJ, Linden NJ, Chelsea MA.
- Closing conditions include pre-closing reorganization and customary deliverables.
- Partnership expects to finance acquisition with borrowings under revolving credit facility.