EnLink Midstream acquiring MLP subsidiary
The wave of consolidation and simplification sweeping the midstream industry continued today, as EnLink Midstream (ticker: ENLC) announced it will acquire its MLP arm, EnLink Midstream Partners (ticker: ENLK).

The pro forma company will retain the name EnLink Midstream and will continue to trade as ENLC. Like the other simplification transactions seen this year, this will be structured as an all-shares deal. ENLK unitholders will receive 1.15 shares of the pro forma ENLC. The pro forma company will have an estimated enterprise value of about $13 billion, making it among the largest midstream firms in the country.

This will simplify the company’s corporate structure which, like most other GP-M...

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