Plains to buy Pogo,plans upstream MLP

摘要

Houston,(NYSE:PXP)plans to acquire Pogo Producing Co.,Houston,(NYSE:PPP)for 1.5 billion in cash and approximately 2.1 billion in stock in a total deal valued at approximately 3.6 billion.Pogo shareholders will receive 0.68201 Plains share and 24.88 in cash per Pogo share,a 19% premium to the pre-announcement value of Pogo shares.Plains shareholders own approximately 66% of the combined company.