Enterprise GP Holdings (EPE) and Enterprise Products Partners (EPD) announced a definitive merger agreement Tuesday morning. EPE unitholders will receive 1.5 EPD common units in exchange for each EPE limited partner unit they own at closing.
Enterprise GP Holdings gapped open sharply higher Tuesday and has continued to gain ground in early trade. Shares are now up 5.85 at $55.75 on above average volume. The stock has surged past resistance and has set a new high for the year.
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