PennTex’s Board of Directors to Review Unsolicited Tender Offer From Energy Transfer Partners
20 May 2017 - 8:10AM
PennTex Midstream Partners, LP (NASDAQ:PTXP) (the “Partnership”),
today confirmed that our affiliate and owner of our general
partner, Energy Transfer Partners, L.P. (NYSE:ETP), has commenced
an unsolicited tender offer to acquire all of the outstanding
common units representing limited partner interests in the
Partnership for $20.00 per unit in cash.
The board of directors of our general partner
(the “Board”) intends to advise unitholders of its formal position
regarding the tender offer within ten business days of its
commencement by making available to unitholders and filing with the
Securities and Exchange Commission a solicitation/recommendation
statement on Schedule 14D-9.
About PennTex Midstream Partners, LP
PennTex Midstream Partners, LP provides natural
gas gathering and processing and residue gas and natural gas
liquids transportation services to producers in northern Louisiana.
Energy Transfer Partners, L.P. owns the general partner of the
Partnership. For more information, visit www.penntex.com.
For further information, please direct all inquiries
to:
Investor Relations: Helen Ryoo, Brent Ratliff
or Lyndsay HannahTelephone: (214) 981-0795
Media Relations: Vicki GranadoTelephone: (214)
840-5820
Cautionary Note
Disclosures in this press release contain
certain forward-looking statements within the meaning of the
federal securities laws. Statements that do not relate strictly to
historical or current facts are forward-looking. These statements
contain words such as “if” and “will” and involve risks and
uncertainties including, among others that our business plans may
change as circumstances warrant. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction
of actual results. Except as otherwise required by applicable
law, the Partnership undertakes no obligation to publicly update or
revise any such forward-looking statements to reflect events or
circumstances that occur, or of which the Partnership becomes
aware, after the date hereof.
Additional Information
This press release does not constitute an offer
to buy or solicitation of an offer to sell any securities. The
Partnership may file a solicitation/recommendation statement on
Schedule 14D-9 with the U.S. Securities and Exchange Commission
(“SEC”). Any solicitation/recommendation statement filed by the
Partnership that is required to be mailed to unitholders will be
mailed to the Partnership’s unitholders. INVESTORS AND UNITHOLDERS
OF THE PARTNERSHIP ARE URGED TO READ THESE AND OTHER DOCUMENTS
FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors and unitholders will be able to obtain free copies of
these documents (if and when available) and other documents filed
with the SEC by the Partnership through the web site maintained by
the SEC at http://www.sec.gov. In addition, any materials
related to Energy Transfer’s unsolicited proposal may be obtained
from the Partnership free of charge by directing a request to
PennTex Midstream Partners, LP, Attn: Investor Relations, 8111
Westchester Drive, Suite 600, Dallas, Texas 75225.
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