APL- Special Situation. Gas Pipeline L.P. that just signed a deal that will return a onetime $3.70 cash to shareholders upon closing. Stock pays about 8+% dividend. Thinly traded. In addition, deal calls for 500 new wells to be tied into their pipeline. No position- I sold on the deal announcement. Looking to get back in on a dip to about $25.
biz.yahoo.com
Atlas Pipeline Partners, L.P. Announces an Agreement to Acquire Triton Coal Company, LLC
PHILADELPHIA--(BUSINESS WIRE)--Jan. 18, 2002--Atlas Pipeline Partners, L.P. (AMEX: APL - news; ``APL'') announced today that it has entered into an agreement to acquire Triton Coal Company, LLC (``Triton''), one of the nation's largest coal companies and one of the largest suppliers of environmentally compliant coal to utilities, from New Vulcan Coal Holdings, L.L.C. and one of its affiliates (collectively, ``Vulcan'').
APL will pay the Triton investors 7.1 million common units, 4.1 million subordinated units and 18.0 million deferred participation units (representing a right to receive subordinated units if certain financial thresholds are achieved). APL presently has outstanding 1.62 million common units and 1.64 million subordinated units.
At the time of closing, Vulcan will make a $6.0 million cash contribution to APL, which will be paid out to APL's common unitholders as a one-time cash distribution of $3.70 per outstanding common unit. The transaction is expe.......... |
