Summit Midstream Corporation Shares Are Trading Higher Today: What You Need To Know
Summit Midstream Corporation Shares Are Trading Higher Today: What You Need To Know
Summit Midstream Corporation (NYSE:SMC) shares are surging Wednesday after the company announced the acquisition of Tall Oak Midstream Operating, LLC from Tailwater Capital LLC for $155 million in cash plus common stock.
Summit midstream公司（NYSE:SMC）股價在週三大漲，此前該公司宣佈以現金加普通股對Tailwater Capital LLC旗下的Tall Oak Midstream Operating, LLC進行收購，交易價值15500萬美元。
Key Points:
主要觀點:
- Strategic Acquisition: The move expands Summit's operations in the Arkoma Basin, adding 440 MMcf/d in processing capacity, over 400 miles of pipelines and more than 300,000 dedicated acres.
- Financial Impact: The deal lowers Summit's pro forma leverage from 4.4x to 3.8x, positioning the company for potential dividends and stock buybacks in 2025. The acquisition is valued at approximately 5.6x the projected 2025 adjusted EBITDA.
- Operational Benefits: Diversifies Summit's commodity portfolio to include both oil and natural gas, enhancing the ability to meet rising natural gas demand.
- Governance: Tailwater Capital will own a 35% interest in the pro forma company, with Summit's management team remaining and the board expanding to include four new directors from Tailwater.
- 戰略收購：此舉擴大了Summit在Arkoma盆地的業務範圍，增加了440MMcf/d的處理能力，超過400英里的管道以及超過30萬畝的專屬領地。
- 財務影響：此交易將使Summit的形式槓桿率從4.4倍降至3.8倍，爲公司在2025年進行可能的分紅和股票回購做好準備。該收購的估值約爲2025年預測調整後的EBITDA的5.6倍。
- 運營優勢：將Summit的商品組合多元化，包括石油和天然氣，增強了滿足不斷增長的天然氣需求的能力。
- 治理結構：Tailwater Capital將擁有該形式公司35%的股權，Summit的管理團隊將繼續任職，董事會將擴大，新增4名來自Tailwater的董事。
What Else: Summit will pay $155 million in cash and issue 7.5 million shares of a mix of SMC Class B common stock and Partnership common units. There is also a contingent cash consideration of $25 million. Summit will also host a call on October 2, 2024, to discuss the acquisition.
其他信息：Summit將支付15500萬美元現金，併發行750萬股SMC b類普通股和合作關係普通股份。此外，還有2500萬美元的有條件現金補償。Summit還將於2024年10月2日舉行電話看漲，討論此次收購。
SMC Price Action: Summit Midstream shares were up by 9.61% at $37.76 at the time of writing, according to Benzinga Pro.
SMC股價行動：根據Benzinga Pro的數據，截至撰寫本文時，Summit midstream股價上漲了9.61%，報37.76美元。
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