ET - The Tallgrass Energy Deal Might Have Hurt The Whole MLP Sector
On August 27, 2019, well after markets had closed, Tallgrass Energy (TGE) announced that they had received a "take private" offer from Blackstone (BX) for $19.50 per share. While the offer was significantly higher than the previous closing price of the shares, the shares had fallen substantially since Blackstone's initial involvement with Tallgrass so many investors felt that management had failed to look after their interests. In addition to questions about why TGE shares had performed so poorly since Blackstone's involvement, another big controversy over the deal was that Tallgrass management