Baker Botts Represents Tallgrass Energy in $3.5 Billion Purchase of its Publicly-Held Class A Shares by Blackstone Infrastructure Partners
Deal Description: Tallgrass Energy, LP (NYSE: TGE) announced on April 17, 2020 the completion of its previously-announced merger with an affiliate of Blackstone Infrastructure Partners (“Blackstone”) pursuant to an Agreement and Plan of Merger dated December 16, 2019 (the “Merger Agreement”). The closing of the transactions contemplated by the Merger Agreement were subject to the satisfaction of customary conditions, including approval of the merger by holders of a majority of the outstanding Class A and Class B Shares of TGE, voting together as a single class. At a special meeting held on April 16, 2020, the TGE shareholders voted to approve the merger transaction.
As a result of the merger, affiliates of Blackstone together with affiliates of Enagas, GIC, NPS and USS (collectively with Blackstone, the “Sponsors”) acquired all of the publicly-held outstanding Class A Shares of TGE for $22.45 per Class A Share and the Class A Shares will cease to be publicly traded.
Baker Botts previously represented Tallgrass Energy Holdings, LLC in connection with its $3.3 billion sale of 100% of the membership interests in TGE’s general partner, as well as an approximate 44% economic interest in TGE, to affiliates of Blackstone in March 2019.
The Current Report on Form 8-K filed by TGE to announce completion of the merger transaction can be found by clicking here.
Baker Botts Lawyers/Office Involved:
- Corporate: Mollie Duckworth (Partner, Austin); Rachel Ratcliffe (Associate, Austin); Grace Matthews (Associate, Austin); Allison Lancaster (Associate, Austin); Jenna Kabrich (Associate, Austin)
- Tax: Jon Nelsen (Partner, Austin)
- Finance: Dan Tristan (Partner, Houston)
- Employment: Mark Bodron (Partner, Houston)
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