TGE - Blackstone Offers To Take Private Tallgrass Energy: Strong Private Demand For Energy Infrastructure Assets
Blackstone Infrastructure Partners has offered to take Tallgrass Energy, LP (TGE) private at $19.50 per share, "an approximate 35.9% premium over TGE's closing price on August 27, 2019, and a premium of approximately 12% to its volume weighted average price during the last 30 calendar days". This premium offer is indicative of the strong private market for oil and gas infrastructure assets and the public/private arbitrage seen in deals such as the take-private of Buckeye (BPL).
There are elements of Blackstone's (BX) Tallgrass offer that are indicative of a