Shell Midstream Shares Up 10% On Merger Plans with Shell USA

Dow Jones2022-07-26

By Kathryn Hardison

Shell Midstream Partners L.P. shares rose 10% to $16.02 on Tuesday, a day after it said it would merge with Shell USA Inc.

The companies said Monday that Shell USA plans to acquire Shell Midstream Partners for $15.85 a unit in cash. The $1.96 billion deal is expected to close in the fourth quarter.

Shares of Shell Midstream Partners are up 39% so far this year.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

$(END)$ Dow Jones Newswires

July 26, 2022 11:17 ET (15:17 GMT)

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