Just from reading overall market reception and (some) investment banking commentary, I think there is a lot of misunderstanding on the SemGroup (SEMG)/Energy Transfer (ET) tie-up among the latter’s shareholders. That is not too surprising as SemGroup, for a large number of reasons, was not widely held and was underfollowed by both small and large investors alike. I was probably alone in holding SemGroup as my largest personal midstream position and it was one I recommended highly to members of Energy Income Authority and to the public (see “SemGroup: High