MMLP - Martin Midstream Partners Receives A Non-Binding Offer At $3.05 Per Unit
2024-05-28 06:14:27 ET
Summary
- Martin Midstream Partners received a non-binding cash offer of $3.05 per unit from Martin Resource Management Corporation.
- This offer is only a 2% premium to MMLP's closing price before the offer was announced.
- I have estimated MMLP's value at $4.35 per unit, but that was based on late 2025.
- A 2024 deal for $3.75 to $4.00 per unit would be reasonable in my opinion.
Martin Midstream Partners ( MMLP ) received a non-binding all-cash offer of $3.05 per unit from Martin Resource Management Corporation (referred to as MRMC later in this article) for the roughly 33 million MMLP units that MRMC doesn't currently own. MRMC (through multiple entities) owns 100% of MMLP's general partner....
Martin Midstream Partners Receives A Non-Binding Offer At $3.05 Per Unit