Tallgrass Energy (TEGP) acquires Tallgrass Energy Partners (TEP); changes name and ticker symbol

Tallgrass Energy GP (TEGP) agrees to acquire Tallgrass Energy Partners (TEP) in a taxable stock-for-unit merger transaction in which TEP unitholders would receive two TEGP shares for each outstanding TEP common unit.

• Quarterly distributions will be increased: The TEGP Class A share Q1 dividend is raised to $0.4875, or $1.95 annualized, and the TEP common unit Q1 distribution is raised to $0.975, or $3.90 annualized.
• Upon closing the proposed transaction, TEGP will change its name to Tallgrass Energy LP and trade on the NYSE under the symbol TGE.

Tallgrass Energy (TEGP) began trading on the NYSE on 7 May 2015

• Tallgrass is a dividend-yielding limited partnership formed by Tallgrass Energy Partners (TEP), which has interests in natural gas transportation and storage.
• Tallgrass Energy (TEGP) makes the notable list for being the largest IPO of the quarter. It raised $1.2 billion, selling 41.5 million shares at 29, above its expected range of 24 to 27.
• website: http://tallgrassenergylp.com

Address

4200 W 115th St Ste 350
LEAWOOD, KS 66211-2733
United States

Key stats and ratios

	Q4 (Dec '16)	2016
Net profit margin	37.98%	40.16%
Operating margin	43.77%	42.00%
EBITD margin	-	57.49%
Return on average assets	7.00%	7.41%
Return on average equity	16.69%	7.96%