Summit Midstream Partners (SMLP) Misses Q4 EPS Views

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Go back to Summit Midstream Partners (SMLP) Misses Q4 EPS Views

Summit Midstream Partners, LP Announces Drop Down of All Operating Assets from Summit Investments and Reports Fourth Quarter and Full Year 2015 Financial Results

February 25, 2016 4:22 PM EST

THE WOODLANDS, Texas, Feb. 25, 2016 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) announced today that it has entered into an agreement with a wholly owned subsidiary of Summit Midstream Partners, LLC ("Summit Investments"), to acquire all of the issued and outstanding membership interests of Summit Utica, Meadowlark Midstream, and Tioga Midstream.  In addition, SMLP will acquire Summit Investments' 40.0% equity interest in each of Ohio Gathering and Ohio Condensate.  The total transaction is estimated at $1.2 billion with consideration structured as a $360.0 million Initial Payment and a Deferred Payment estimated at approximately $800.0 million... More