Ladenburg Thalmann Downgrades MarkWest Energy (MWE) to Neutral

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Go back to Ladenburg Thalmann Downgrades MarkWest Energy (MWE) to Neutral

MPLX LP (MPLX) to Acquire MarkWest Energy Partners (MWE) in ~$15.8B Deal, Less Debt

July 13, 2015 6:35 AM EDT

(Updated - July 13, 2015 6:36 AM EDT)

MPLX LP (NYSE: MPLX) and MarkWest Energy Partners (NYSE: MWE) announced that they have signed a definitive merger agreement whereby MarkWest would become a wholly owned subsidiary of MPLX. The merger would be a unit-for-unit transaction, generally expected to be tax-free, plus a one-time cash payment to MarkWest unitholders, that implies a total enterprise value for MarkWest of approximately $20 billion, including the assumption of debt of approximately $4.2 billion, as of the close of trading on Friday, July 10, 2015.

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