Baker Botts Reps Regency In $5.6B Deal For Pipeline Rival

Law360, New York (October 10, 2013, 12:07 PM EDT) -- U.S. midstream oil and gas firm Regency Energy Partners LP has agreed to buy competitor PVR Partners LP in a $5.6 billion stock-for-stock deal, giving Regency a footprint in the Marcellus and Utica shales, the Texas-based energy LP said Thursday.

PVR stockholders will receive 1.02 common units of Regency for each PVR share they own. The deal, which includes the assumption of roughly $1.8 billion in debt, values PVR units at roughly $28.68, a 25.7 percent premium to the Radnor, Pa.-based firm's closing price on Wednesday....
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