Thursday, July 2, 2009
Teppco puts distribution plan on hold
Houston Business Journal
Teppco Partners LP on Thursday said it had suspended its distribution reinvestment plan as it works out its merger deal with Enterprise Products Partners LP
The two Houston companies announced on June 29 that they would merge to form the largest publicly traded midstream energy partnership with a value of about $26 billion.
Investors will not be able to acquire additional limited units of Teppco (NYSE: TPP) under the plan while the transaction is pending.
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