Vinson Reps Plains All American In Gas Storage Co. Buyout

Law360, New York (October 22, 2013, 1:36 PM EDT) -- Plains All American Pipeline LP on Tuesday said it has agreed to acquire the rest of PAA Natural Gas Storage LP that it doesn’t already own in a raised all-stock deal that values PNG at around $1.41 billion.

Under the terms of the merger agreement, PNG will become a wholly owned subsidiary of Plains, which stores, transports and sells oil and liquefied natural gas, through a unit-for-unit exchange in which PNG’s public unitholders will receive 0.445 common units of Plains per each PNG common unit....
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