5 Firms Steer Blackstone Infrastructure's $3.5B Tallgrass Buy

Law360 (December 17, 2019, 1:59 PM EST) -- Blackstone Infrastructure Partners and an investor consortium on Tuesday inked a roughly $3.5 billion takeover agreement for Tallgrass Energy in a sweetened deal steered by five firms.

Affiliates of Blackstone Infrastructure Partners and a consortium of sponsors will acquire publicly held Class A shares in Tallgrass Energy LP that they don't already own for $22.45 apiece in cash, according to Tallgrass' announcement. The agreement is a higher offer than Blackstone's August proposal, which offered $19.50 per share.

The other investors in the deal are affiliates of Spanish energy company Enagás SA, steered by Latham & Watkins LLP; GIC, which is Singapore's...

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