Hiland Partners (HLND) and Hiland Holdings GP, LP (HPGP) To Be Taken Private
The Hiland companies, Hiland Partners, LP (Nasdaq: HLND) and Hiland Holdings GP, LP (Nasdaq: HPGP), today announced that each of the Hiland companies has signed a separate definitive merger agreement with an affiliate of Harold Hamm, pursuant to which affiliates of Mr. Hamm have agreed to acquire for cash all of the outstanding common units of each of the Hiland companies that are not owned by Mr. Hamm, his affiliates or Hamm family trusts.
In the mergers, Hiland Partners' unitholders will receive $7.75 in cash for each common unit they hold and Hiland Holdings' unitholders will receive $2.40 in cash for each common unit they hold.
HLND closed at $5.74 yesterday and HPGP closed at $1.87.
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