ET - What's Going On With Energy Transfer Stock Tuesday? | Benzinga
Energy Transfer (NYSE:ET) shares are trading lower. The company on Tuesday announced the acquisition of WTG Midstream in a $3.25 billion transaction.
The Details: On Tuesday morning, Energy Transfer said it entered into a definitive agreement to acquire WTG Midstream from affiliates of Stonepeak, Davis Estate and Diamondback Energy.
The transaction, which is valued at $3.25 billion, will include $2.45 billion in cash and about 50.8 million newly issued common units from Energy Transfer.
Energy Transfer expects to benefit from the addition of WTG assets by gaining increased access to growing natural gas ...