Martin Midstream Partners Shares Climb on Deal to Sell Business to Martin Resource Management at Premium Price

Dow Jones

Oct 04, 2024

By Sabela Ojea

Shares of Martin Midstream Partners climbed in post-market trading after the company said it is selling itself to Martin Resource Management at a premium price.

The stock was up 10% to $3.06. Through Thursday's close, shares have surged 50% since the beginning of the year.

The natural gas distribution company said Martin Resource will acquire all of its outstanding common units it doesn't already own in an all-cash transaction.

Martin Resource will pay $4.02 per unit, representing a 34% premium to Martin Midstream Partners' closing price prior to the company's initial proposal, made on May 24.

The deal is expected to close by the end of the year.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

October 03, 2024 17:29 ET (21:29 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2472324622"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2472324622\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2472324622?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-04 05:29","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2472324622","market":"sh","top_or_hot":-1,"title":"Martin Midstream Partners Shares Climb on Deal to Sell Business to Martin Resource Management at Premium Price","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Martin Midstream Partners climbed in post-market trading after the company said it is selling itself to Martin Resource Management at a premium price. \n</p>\n<p>\n  The stock was up 10% to $3.06. Through Thursday's close, shares have surged 50% since the beginning of the year. \n</p>\n<p>\n  The natural gas distribution company said Martin Resource will acquire all of its outstanding common units it doesn't already own in an all-cash transaction. \n</p>\n<p>\n  Martin Resource will pay $4.02 per unit, representing a 34% premium to Martin Midstream Partners' closing price prior to the company's initial proposal, made on May 24. \n</p>\n<p>\n  The deal is expected to close by the end of the year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 03, 2024 17:29 ET (21:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Martin Midstream Partners Shares Climb on Deal to Sell Business to Martin Resource Management at Premium Price</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMartin Midstream Partners Shares Climb on Deal to Sell Business to Martin Resource Management at Premium Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-04 05:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Martin Midstream Partners climbed in post-market trading after the company said it is selling itself to Martin Resource Management at a premium price. \n</p>\n<p>\n  The stock was up 10% to $3.06. Through Thursday's close, shares have surged 50% since the beginning of the year. \n</p>\n<p>\n  The natural gas distribution company said Martin Resource will acquire all of its outstanding common units it doesn't already own in an all-cash transaction. \n</p>\n<p>\n  Martin Resource will pay $4.02 per unit, representing a 34% premium to Martin Midstream Partners' closing price prior to the company's initial proposal, made on May 24. \n</p>\n<p>\n  The deal is expected to close by the end of the year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 03, 2024 17:29 ET (21:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MMLP","symbol_name":"Martin Midstream Partners L.P.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2472324622","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472324622","pubTimestamp":1727990940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Martin Midstream Partners climbed in post-market trading after the company said it is selling itself to Martin Resource Management at a premium price.The stock was up 10% to $3.06. Through Thursday's close, shares have surged 50% since the beginning of the year.The natural gas distribution company said Martin Resource will acquire all of its outstanding common units it doesn't already own in an all-cash transaction.Martin Resource will pay $4.02 per unit, representing a 34% premium to Martin Midstream Partners' closing price prior to the company's initial proposal, made on May 24.The deal is expected to close by the end of the year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MMLP":"Martin Midstream Partners L.P.","BK4590":"PTP","BK4144":"石油与天然气的储存和运输"},"translate_title":"Martin Midstream Partners以溢价将业务出售给Martin Resource Management，股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MMLP":0.9},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Shares of Martin Midstream Partners climbed in post-market trading after the company said it is selling itself to Martin Resource Management at a premium price. \n\n\n  The stock was up 10% to $3.06. Through Thursday's close, shares have surged 50% since the beginning of the year. \n\n\n  The natural gas distribution company said Martin Resource will acquire all of its outstanding common units it doesn't already own in an all-cash transaction. \n\n\n  Martin Resource will pay $4.02 per unit, representing a 34% premium to Martin Midstream Partners' closing price prior to the company's initial proposal, made on May 24. \n\n\n  The deal is expected to close by the end of the year. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 03, 2024 17:29 ET (21:29 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}