Energy Income Partners, or EIP, which identifies itself as “the fourth largest and long-time shareholder in Magellan Midstream Partners,” said it believes that Magellan’s August 29 presentation “amounts to a series of scare tactics that present Magellan unitholders with a false choice: merge with ONEOK or else.” The firm said: “EIP’s decision to vote against the merger is based on the financials presented by management that show definitively that Magellan is better off as a stand-alone company, and we urge our fellow unitholders to vote ‘no’.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MMP:
- Magellan Midstream Files Investor Presentation Highlighting Benefits of Pending ONEOK Transaction
- Magellan Midstream CEO sees better growth prospects in natural gas, FT reports
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Chevron upgraded, SolarEdge downgraded: Wall Street’s top analyst calls
- Magellan Midstream downgraded to Sell from Hold at Argus
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue