In the proposed transaction, TEGP will issue an aggregate of approximately 95.2 million Class A shares to former TEP common unitholders, representing approximately 62.1 percent of the outstanding Class A shares of TEGP following the transaction.
Subject to customary closing conditions, including the approval by holders of a majority of the outstanding TEP common units and the expiration or termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, the merger is expected to close by the end of the second quarter of 2018. As part of the transaction, TEGP and certain of its subsidiaries entered into a support agreement agreeing to vote their approximately 25.6 million TEP common units (representing approximately 35 percent of the total outstanding TEP common units) in favor of the merger.
Baker Botts Lawyers/Offices Involved:
Corporate: Mollie Duckworth (Partner, Austin); Joshua Davidson (Partner, Houston); Courtney Fore (Senior Associate, Austin), Rachel Ratcliffe (Associate, Austin); Allison Lancaster (Associate, Austin) and Ty’Meka Reeves-Sobers (Associate, Austin)
Tax: Michael Bresson (Partner, Houston) and Jon Nelsen (Partner, Austin)
Finance:Daniel Tristan (Partner, Houston); David Nimmons (Associate, Houston)
Employee Benefits: Mark Bodron (Partner, Houston); Stephanie Jeane (Associate, Washington)
Hart-Scott-Rodino: Michael Bodosky (Special Counsel, Washington)
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