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BKEP - Blueknight Energy to be bought by general partner Ergon
Blueknight Energy Partners L.P.
Blueknight Energy Partners (NASDAQ:BKEP) said Friday it has agreed to be acquired by Ergon Inc., its general partner, for $4.65 per common unit, representing a 41% premium to Thursday's closing price; shares are halted. The agreement follows the $3.32 per common unit offer made by Ergon in October 2021 to acquire Blueknight's common and preferred units. In its most recent quarterly earnings report, Blueknight Energy posted GAAP earnings of $0.06/share on $30M in revenues.