M&A
confidence high
sentiment positive
materiality 0.85
Martin Midstream Partners to be taken private by MRMC for $4.02 per unit cash
MARTIN MIDSTREAM PARTNERS L.P.
- All-cash merger at $4.02 per public common unit; 34% premium to May 24 close and 11.33% premium to 30-day VWAP.
- Holders representing ~26% of outstanding units (MRMC, RSM, Senterfitt, Bondurant) commit to vote in favor.
- Closing expected by end of 2024; requires majority unitholder approval and antitrust clearance.
- MRMC to finance with cash on hand, cash flow, expanded credit facility, and $5M in management loans.