M&A
confidence high
sentiment positive
materiality 0.75
Green Plains Inc. to acquire all public units of Green Plains Partners LP in stock-and-cash deal
Green Plains Inc.
- Per-unit consideration: 0.405 GPRE shares plus $2.00 cash, plus accrued distribution; valued at ~$15.69 as of Sep 15, 2023.
- 20% premium to GPP's $13.08 closing price on May 3, 2023, the day before GPRE's initial proposal.
- Expected to close in Q4 2023; requires approval of majority of GPP common units and other conditions.
- Support agreements cover ~50.1% of GPP common units, including those held by GPRE and affiliates.
- Deal aims to simplify corporate structure, generate earnings accretion, reduce SG&A, and improve credit quality.