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Martin Midstream (MMLP) Units Gain Amid Buyout Proposals
MMLPMartin Midstream Partners(MMLP) ZACKS·2024-07-15 14:07

Martin Midstream Partners (MMLP) has received a non-binding offer from two New York-based capital groups, Nut Tree Capital Management LP and Caspian Capital LP, to acquire it at 4perunit.TheofferhadbeenrejectedbyMMLP′sgeneralpartner′sConflictsCommitteedespiteovershadowingthepreviousbidfortakeovermadebyMartinResourceManagementCorporation("MRMC")inMay2024.MRMCmadeanoffertoacquirethemidstreamfirmat4 per unit. The offer had been rejected by MMLP's general partner's Conflicts Committee despite overshadowing the previous bid for takeover made by Martin Resource Management Corporation ("MRMC") in May 2024. MRMC made an offer to acquire the midstream firm at 3.05 per unit, totaling approximately $100.3 million. In a letter (date ...