Magnolia Infrastructure Holdings has delivered a non-binding offer to acquire American Midstream Partners.
Magnolia, a subsidiary of ArcLight Energy Partners, has put in an offer to acquire all common units of the partnership and its affiliates for $6.10 per common unit. If approved, it is currently expected that the transaction would be consummated through a merger of the partnership with a subsidiary of ArcLight.
ArcLight says there can be no assurance that any discussion that may occur between the parties will result into a definitive agreement concerning a transaction. The transaction is subject to a number of contingencies.