DALLAS--(BUSINESS WIRE)--Oct. 4, 2018--
Energy Transfer Partners, L.P. (NYSE: ETP) today announced that
Institutional Shareholder Services (“ISS”) and Glass Lewis & Co., the
two leading independent U.S. proxy advisory firms, have recommended that
ETP unitholders vote "FOR" the proposed merger with Energy Transfer
Equity, L.P. (NYSE: ETE), which will be considered at the October 18,
2018 special meeting of ETP unitholders.
ETP unitholders of record as of the close of business on September 10,
2018 will be entitled to vote at the meeting. As previously announced,
under the terms of the merger agreement, holders of ETP common units
will receive 1.28 ETE common units for each ETP common unit they own.
ETP’s Board of Directors has recommended that ETP unitholders vote in
favor of the merger by completing and returning their proxy cards, which
were mailed to ETP common unitholders on or about September 11, 2018.
ETP’s unitholders are reminded that their vote is important. Unitholders
may also be able to vote their common units by telephone or the Internet
if their units are held by a broker or other nominee. If ETP unitholders
do not vote, it will have the same effect as a vote “Against” the
adoption of the merger agreement and the transactions contemplated
thereby. ETP unitholders are advised that if they have any questions or
need any assistance in voting their units, they should contact ETP’s
proxy solicitor, MacKenzie Partners, Inc., by telephone at (800)
322-2885 toll free.
About the Partnerships
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins,
ETP’s operations include complementary natural gas midstream, intrastate
and interstate transportation and storage assets; crude oil, natural gas
liquids (NGL) and refined product transportation and terminalling
assets; NGL fractionation; and various acquisition and marketing assets.
ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE:
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited
partnership that owns the general partner and 100% of the incentive
distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP)
and Sunoco LP (NYSE: SUN). ETE also owns Lake Charles LNG Company and
the general partner of USA Compression Partners, LP (NYSE: USAC). On a
consolidated basis, ETE’s family of companies owns and operates a
diverse portfolio of natural gas, natural gas liquids, crude oil and
refined products assets, as well as retail and wholesale motor fuel
operations and LNG terminalling.
This press release includes “forward-looking” statements.
Forward-looking statements are identified as any statement that does not
relate strictly to historical or current facts. Statements using words
such as “anticipate,” “believe,” “intend,” “project,” “plan,” “expect,”
“continue,” “estimate,” “goal,” “forecast,” “may” or similar expressions
help identify forward-looking statements. ETE and ETP cannot give any
assurance that expectations and projections about future events will
prove to be correct. Forward-looking statements are subject to a variety
of risks, uncertainties and assumptions. These risks and uncertainties
include the risks that the proposed transaction may not be consummated
or the benefits contemplated therefrom may not be realized. Additional
risks include: the ability to obtain ETP unitholder approval and the
satisfaction of the other conditions to the consummation of the proposed
transaction, the potential impact of the consummation of the proposed
transaction on relationships, including with employees, suppliers,
customers, competitors and credit rating agencies, and the ability to
achieve revenue, DCF and EBITDA growth, and volatility in the price of
oil, natural gas, and natural gas liquids. Actual results and outcomes
may differ materially from those expressed in such forward-looking
statements. These and other risks and uncertainties are discussed in
more detail in filings made by ETE and ETP with the SEC, which are
available to the public. ETE and ETP undertake no obligation to update
publicly or to revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Additional Information and Where to Find It
ETE has filed with the SEC a registration statement on Form S-4, which
includes a proxy statement of ETP that also constitutes a prospectus of
ETE (the “proxy statement/prospectus”). The registration statement on
Form S-4 was declared effective by the SEC on September 7, 2018, and the
definitive proxy statement/prospectus will be delivered to ETP common
unitholders of record as of September 10, 2018. SECURITY HOLDERS ARE
URGED TO READ THE PROXY STATEMENT/PROSPECTUS CAREFULLY. These documents
and any other documents filed by ETE or ETP with the SEC may be obtained
free of charge at the SEC’s website, at www.sec.gov.
In addition, investors and security holders may obtain free copies of
the proxy statement/prospectus by phone, e-mail or written request by
contacting the investor relations department of ETE or ETP at: 8111
Westchester Drive, Dallas, TX 75225, Attention: Investor Relations,
Participants in the Solicitation
ETE, ETP and their respective directors and executive officers may be
deemed to be participants in the solicitation of proxies in connection
with the proposed merger. Information regarding the directors and
executive officers of ETE is contained in ETE’s Form 10-K for the year
ended December 31, 2017, which was filed with the SEC on February 23,
2018. Information regarding the directors and executive officers of ETP
is contained in ETP’s Form 10-K for the year ended December 31, 2017,
which was filed with the SEC on February 23, 2018. Additional
information regarding the interests of participants in the solicitation
of proxies in connection with the proposed merger is included in the
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
The information contained in this press release is available on our
website at energytransfer.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181004005863/en/
Source: Energy Transfer Partners, L.P.
Bill Baerg / Lyndsay
Hannah / Brent Ratliff, 214-981-0795