SHLX's units will no longer be listed on the New York Stock Exchange, and it will cease to be a publicly traded company
Shell USA, Inc. completes acquisiton of Shell Midstream Partners, L.P. (Credit: PublicDomainPictures from Pixabay)
Shell USA, Inc. (“Shell USA”) and Shell Midstream Partners, L.P. (NYSE: SHLX) (“SHLX”) today announced the completion of the transactions contemplated by the previously announced agreement and plan of merger, pursuant to which Shell USA acquired all of the common units representing limited partner interests in SHLX not held by Shell USA or its affiliates (the “Public Common Units”) for $15.85 per Public Common Unit in cash and a total value of approximately $1.96 billion. As a result of the transaction, SHLX is now an indirect, wholly owned subsidiary of Shell USA.
Effective with the opening of markets today, SHLX’s units will no longer be listed on the New York Stock Exchange, and it will cease to be a publicly traded company.