Friendly Merger to Bring Synergies and Growth - Report on MarkWest Energy Partners

Jul 20, 2015, 09:05 ET from

NEW YORK, July 20, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on MarkWest Energy Partners, L.P. (NYSE: MWE). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL:

Highlights from our MWE Report include:

  • Merger Agreement with MPLX LP -- On July 13, 2015, MarkWest Energy Partners, L.P. along with MPLX LP announced they have signed a definitive merger agreement through which MarkWest would become a wholly owned subsidiary of MPLX. Under the terms of the merger agreement, which was approved by the Boards of Directors of the general partners of MPLX and MarkWest, the common unitholders of MarkWest would receive 1.09 MPLX common units along with a one-time cash payment of approximately $3.37 per MarkWest common unit, for total consideration of $78.64 per MarkWest common unit.
  • Merger to Create the Fourth-Largest Master Limited Partnership -- As per MarkWest, the proposed transaction combines the nation's second-largest processor of natural gas and largest processor and fractionator in the Marcellus and Utica shale. The Company highlighted that the combination would create the fourth-largest master limited partnership (MLP) based on a market capitalization of $21 billion.
  • The Combination to Have a Positive Impact on Markwest's Project Pipeline - As per the Company, MarkWest's, MPLX's along with MPC's (MPLX 's sponsor) highly diverse asset base have complementary aspects which supports for significant additional opportunities across multiple segments of the hydrocarbon value chain. Markwest's added that the combined entity would also increase its leading midstream presence in the Marcellus and Utica shales by allowing it to pursue additional dynamic midstream projects.
  • Structural Impact of Combination -- The transaction which is subject to approval by MarkWest unitholders and to customary closing conditions and regulatory approvals is expected to close in Q4 2015. MarkWest informed that after the completion of the transaction, it would become a wholly owned subsidiary of MPLX.
  • Upcoming Events - MarkWest has also scheduled to release its Q2 2015 financial results on August 5, 2015, before market opens.  In conjugation with the earnings release it will also host a conference call host on the same day at 12:00 p.m. ET. As per Zacks investment research, MarkWest is expected to report earnings of $0.20 per share in Q2 2015. Earlier as per MarkWest's Q1 2015 earnings release, net loss attributable to the Partnership's common unitholders per common unit stood at $0.05.

To find out how this influences our rating on MarkWest Energy Partners, L.P. read the full report in its entirety here:

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