Enterprise To Buy Rest Of Duncan Energy For $2.4B

Law360, New York (February 23, 2011, 6:36 PM EST) -- Houston-based Enterprise Product Partners LP on Wednesday unveiled a plan to buy the portion of Duncan Energy Partners LP's common stock that it doesn't already own for $2.4 billion.

Enterprise is proposing a unit-for-unit exchange of 0.9545 Enterprise common units for each issued and outstanding publicly held Duncan Energy common unit. The transaction would be structured as a merger of Duncan Energy Partners with a wholly owned subsidiary of Enterprise.

The consideration represents a value of $42 for each Duncan Energy common unit, or a premium...
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