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Posted On: 07/30/2018 8:05:18 AM
Post# of 103413
$SXE
• Southcross Energy Partners (NYSE:SXE) says it has terminated the planned merger with American Midstream Partners (NYSE:AMID), citing AMID’s failure to achieve conditions required under the agreement.
• SXE parent Southcross Holdings also has ended the planned contribution agreement with AMID as a result of a funding failure by AMID and says it is entitled to receive a $17M termination fee.
• AMID fell 43% in Friday's trade after slashing its Q2 distribution by 75% to $0.1031/unit from $0.4125/unit.
• Southcross Energy Partners (NYSE:SXE) says it has terminated the planned merger with American Midstream Partners (NYSE:AMID), citing AMID’s failure to achieve conditions required under the agreement.
• SXE parent Southcross Holdings also has ended the planned contribution agreement with AMID as a result of a funding failure by AMID and says it is entitled to receive a $17M termination fee.
• AMID fell 43% in Friday's trade after slashing its Q2 distribution by 75% to $0.1031/unit from $0.4125/unit.
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