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POTENTIAL DEAL DETAILS
| Stock | Martin Midstream Partners L.P. | Symbol | MMLP |
| Date Announced | 05/24/2024 | Source | Press Release |
| Type | Unsolicited Bid | Acquiring Company/Person | Martin Resource Management Corporation |
| Date of Confirmation: | 10/03/2024 | Price at Confirmation: | $3.60 |
| Potential Profit: | 15.76% | Annualized Profit: | 43.57% |
Martin Midstream Partners L.P. (MMLP) announced that Martin Resource Management Corporation has made a non-binding proposal to the Board of Martin Midstream GP, the general partner of MMLP, pursuant to which MRMC would acquire all of the outstanding common units of MMLP for a cash purchase price of $3.05 per common unit.
Martin Midstream Partners L.P. Investor Relations
Update(s):
July 11, 2024: Nut Tree Capital Management and Caspian Capital announced they sent a letter to Martin Midstream (MMLP) reiterating their non-binding proposal made on June 21, 2024, to acquire Martin Midstream Partners for $4.00 per common unit in cash.
Martin Resource Management Corporation (MRMC), which owns the general partner of Martin Midstream Partners L.P. (MMLP) announced regarding a proposal from Nut Tree Capital and Caspian Capital, that MRMC is only interested in acquiring all remaining common units of Martin Midstream. MRMC has no intention of selling its interests in MMLP or its general partner, nor is it considering other strategic alternatives involving these entities. If no agreement is reached, MRMC will withdraw its proposal.
July 19, 2024: Nut Tree and Caspian Capital sent a letter to the conflicts committee of Martin Midstream GP, pointing out significant conflicts of interest involving the Conflicts Committee, General Partner, MRMC, and Martin Midstream Partners (MMLP). In their letter, Nut Tree and Caspian reaffirm their fully-financed offer to acquire MMLP’s common units for $4.00 per unit in cash and urge the Conflicts Committee to prioritize the interests of all MMLP common unitholders by ensuring that any deal with MRMC receives approval from a majority of unaffiliated common unit holders.
July 29, 2024: Nut Tree and Caspian Capital sent a letter to Martin Midstream GP, announcing an increase in their offer to acquire Martin Midstream Partners (MMLP) to $4.50 per common unit in cash.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.