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Enterprise Products Partners L.P. Message Board

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  • strum_this strum_this Feb 24, 2011 8:42 AM Flag

    Proposal to acquire DEP

    Considering that the people doing the offering already own a controlling interest in DEP makes it pretty unlikely that there will be a lot of negotiation. Frankly I'm surprised they did the offer at such a high premium.

    At the offer of .95 unit conversion (not 0.92), it's a good deal for DEP holders and a good deal for EPD (vs. them raising capital). Which DEP owner is going to turn down an offer for an instant 28% capital appreciation, PLUS a 25% increase in quarterly distribution, all rolled into a tax-free transaction for a security that is growing faster? I won't.

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